Novel Business-Oriented Auctions

Abstract

With the advent of the Internet, traditional auction forms have evolved to fit into a plethora business niches, either integrating into traditional approaches or simply creating new opportunities. This chapter examines two novel uses for auctions in a business context, namely sponsored search auctions and prediction markets. Understanding the potential auction benefits and limitations can hopefully provide practitioners with a more informed and successful approach when employing these auction-based tools in their business.