Great video primer on the mathematics of auctions
by Andrea James from on (#378H4)
What's the difference between a tulip auction, an English auction, a sealed bid auction, and a Vickrey second-bid auction? Preston McAfee, Chief Economist at Microsoft explains auction types.
Bonus video: America's contribution to the English auction:
https://www.youtube.com/watch?v=Ea7gn8hhEFA
" The Ideal Auction (YouTube / Numberphile)