The Internet has made auctions a common and integral part of the way commerce is conducted today. In both the consumer and business markets the applicability of auction-based trading mechanisms has been expanded by the computational power and flexibility the Internet makes available. There is...

Internet auctions for consumers' goods are an increasingly popular selling venue. Many sellers, instead of offering their entire inventory in a single auction, split it into sequential auctions of smaller lots, thereby reducing the negative market impact of large lots. Information technology...