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A candle auction is a type of auction where the bidding process is time-limited, usually determined by the burning of a candle. In a traditional candle auction, a candle is lit, and the auctioneer bids until the candle burns down to a predetermined point, signaling the end of the auction. The auction typically involves a fixed time interval after which the bidding is closed, and the highest bidder at that moment wins the auction.

Ancestors (6)

  1. Types of auction
  2. Auction theory
  3. Game theory
  4. Fields of mathematics
  5. Mathematics
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