Understanding Auction Theory: Vickrey’s 1996 Nobel Prize Explained

Auction Market Theory is based on the assumption that price is the result of a continuous auction process in which buyers and sellers seek balance. The market moves as long as this balance is being searched for, or until new information enters the system. When price reaches the level where the highest number of transactions occurs, the so-called value area is formed. This zone reflects market consensus during a given period. When price moves outside of this area, the market either rejects the ne

Auction Market Theory for Beginners (Why Price Moves)

Auction Theory and Vickrey's 1996 Economics Nobel Prize Explained