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Auction: An auction is usually a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types.
Auction theory: Auction theory is an applied branch of economics which deals with how people act in auction markets and researches the properties of auction markets. There are many possible designs for an auction and typical issues studied by auction theorists include the efficiency of a given auction design, optimal and equilibrium bidding strategies, and revenue comparison.
Auction sniping: Auction sniping is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper. This can be done manually, by software on the bidder's computer, or by an online sniping service.A bid sniper (often, merely called a sniper) is a person, or software agent, that performs auction sniping.
Auction World.tv: Auction World.tv was a British television channel which auctioned a variety of products by telephone bidding. The channel claimed to sell high-quality products at very low prices and promised reliable delivery, however doubt was cast over these claims after investigations reported by papers and television programmes such as the Daily Mirror and Watchdog.
Auction rate security: An auction rate security typically refers to a debt instrument (corporate or municipal bonds) with a long-term nominal maturity for which the interest rate is regularly reset through a dutch auction. Since February 2008, most such auctions have failed, and the auction market has been largely frozen.