%0 Journal Article %A Jagannath Aryal and Don Kulasiri and Garth A. Carnaby %D 2008 %J International Journal of Economics and Management Engineering %B World Academy of Science, Engineering and Technology %I Open Science Index 15, 2008 %T Auction Theory: Bidder-s Perspective in a Public Out-Cry English Auction %U https://publications.waset.org/pdf/5895 %V 15 %X This paper provides an overview of auction theory literature. We present a general review on literature of various auctions and focus ourselves specifically on an English auction. We are interested in modelling bidder-s behavior in an English auction environment. And hence, we present an overview of the New Zealand wool auction followed by a model that would describe a bidder-s decision making behavior from the New Zealand wool auction. The mathematical assumptions in an English auction environment are demonstrated from the perspective of the New Zealand wool auction. %P 169 - 173