Japanese Auction


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Japanese Auction

A way to run an auction in which all participants must bid each new price in order to remain in competition for the item. For example, if the opening bid for a good is $500, all participants must bid $500. If the next bid is $600, anyone who does not bid $600 is eliminated. This continues until only one bidder remains. Each bidder is able to observe how many other bidders remain after each round.
References in periodicals archive ?
effort that resulted in eBay closing its Japanese auction site.
Onsale and SOFTBANK announced the joint venture in May 1998, and launched the online Japanese auction site six months later.
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