... auction system that makes auctions research truly exciting Game theoretic treatments of different kinds of auctions can be found in McAfee and McMillan [7], Milgrom [8], and Milgrom and Weber [9], while some experimental results are reported in Kagel [2]. There have been many papers [6], [3], [4], [12], and [13] that describe the salient features of Internet auctions and issues arising out of using auctions for trading over the Internet over the last couple of years. One of the early papers that discuss real time and performance issues in the design of auction servers is that of Wellman and Wurman [12]. They discuss the advantages of decoupling the bidder interface from the auction processing completely. Wurman et al [14], present an extensive breakdown of the auction space that captures the essential similarities and differences of many auction mechanisms in a format more descriptive and useful than simple taxonomies. We implemented ...

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