@article{(Open Science Index):https://publications.waset.org/pdf/5895, title = {Auction Theory: Bidder-s Perspective in a Public Out-Cry English Auction}, author = {Jagannath Aryal and Don Kulasiri and Garth A. Carnaby}, country = {}, institution = {}, abstract = {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.}, journal = {International Journal of Economics and Management Engineering}, volume = {2}, number = {3}, year = {2008}, pages = {169 - 173}, ee = {https://publications.waset.org/pdf/5895}, url = {https://publications.waset.org/vol/15}, bibsource = {https://publications.waset.org/}, issn = {eISSN: 1307-6892}, publisher = {World Academy of Science, Engineering and Technology}, index = {Open Science Index 15, 2008}, }