Overview

auctioneer


Show Summary Details

Quick Reference

1 In practical usage, the auctioneer manages the bidding process in an auction.

2 As a theoretical construct, the auctioneer is a fictitious device to explain the determination of equilibrium prices in a competitive economy in which no firm or consumer has price-setting power.

Subjects: Economics.

Related content in Oxford Index

See all related items in Oxford Index »

Reference entries
auctioneer
in A Dictionary of Economics

Reference Entry

Search for the text `auctioneer' anywhere in Oxford Index »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.