Auctions have been around for centuries. They became popular in 17th century England.
bidders publicly announce successive bids until no higher bid is forthcoming.
open auction in which bidding starts at a high price and then lowers until a bidder accepts the price.
no sharing of information
commodity futures and stock options
buyers and sellers each submit combined price-quantity bids to an auctioneer
Amazon, Ebay TRUSTe, Escrow sites are intermediaries that ensure your security during significant transactions.
evolved to make a specific existing need. used to dispose of unusable or excess inventory
cellular-satelite communications technology
programs that search the web in order to find items for sale that fit the buyers needs
gathering place for people to do business that does not require physical evidence
