Auctions

Authors: Ferejohn, John; Forsyther, Robert; Noll, Roger G.

Published in: Engineering and Science, Volume 43, Number 3, 1980, pp. 24-28

Part of: Engineering and Science, Volume 43:3, January-February 1980

Item Category: Feature Articles

Persistent URL: https://resolver.caltech.edu/CaltechES:43.3.auctions

Abstract

From scholarships to airport landing rights--auction mechanisms aid resource allocation decisions. Several Caltech social scientists are using auction mechanisms to design new methods of solving nonmarket decision-making problems, as well as those of traditional economic markets.

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