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What is an auction? It's a trade wherein bids are placed and goods are sold to the highest bidder. No, auction is much more than mere trade of goods and services. Auction has its own economic aspects and theories.
But what is the role of this theory?
Does it even influence the auction outcome?
Does it make any difference in the auction procedure?
Swipe to know how economies of auction influence and impacts the entire auction process.
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