Modern Auctions

Auction technology has blossomed around the world, and called into existence a whole new industry, replete with firms, entrepreneurs, consultants, counter-consultants and even a few gunslingers. When the National Bureau of Economic Research’s Market Design Working Group held its first-ever meeting earlier this month, many of the stars were there, mostly economists, but a handful of computer scientists, as well.

via Economic Principals » Blog Archive » Auctions and Politicians.

Click through to see how evolving technology is allowing for the design of sophisticated auctions that has the potential to solve problems with (and change) our economy and government.