multi-unit auction

A multi-unit auction is a type of bidding process where multiple identical items or units are sold simultaneously to the highest bidders. Participants place bids for one or more units, and the auction can be structured in various ways, such as sealed bids or open bidding. The goal is to maximize revenue from the sale, with bidders competing for the desired quantity of items. This format is commonly used for selling goods like concert tickets, art pieces, or government resources, allowing bidders to express their willingness to pay for multiple units rather than just one.