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Ascending and descending auctions

Ascending auction

This describes auctions where bidders place bids of progressively higher amounts, aiming to outbid each other. The bidder who places the highest bid by the end of the auction wins. English auctions are the most well-known kind of ascending auction.

Descending auction

This describes auctions where the price is progressively lowered until a bidder accepts the current price. Dutch auctions are the most well-known kind of descending auction.

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