ABSTRACT
A common concern in game design is how to allocate resources fairly among players. One of the most versatile solutions is an auction. The branch of mathematics called Game Theory studies auctions extensively, and game designers can draw on a rich trove of auction types with widely varying dynamics. Multiple-lot auctions, simultaneous or single-bid auctions, and auctions with substantial constraints on bidding amounts all help make auctions work better in the context of tabletop games. One important feature of the Open Auction is that the dominant strategy for any bidder is to stay in the auction until their value for the auctioned goods is reached. An overlooked feature of English Auctions is that the price of the auction moves against the preferences of the bidders. An important aspect of English Auctions, and auctions with auctioneers more generally, is to whom the closing price is paid. Sealed-Bid Auctions sacrifice some of the informational value of other iterative bid systems.
