## 2 Auction Types Overview  
Auctions have served as a mechanism for pricing goods and services for over two thousand years. [PERSON] documents the existence of auctions in ancient Babylon about 500 BCE as noted in [6]. Perhaps the most renowned auction in history took place in BCE [7], during which the entire Roman Empire was sold. Over the years, various new auction formats have been proposed to enhance procedural efficiency in the buying and selling of items, as well as their allocation. Amongst the most recognizable formats, the English auction is arguably the most intuitive, making it an ideal first case for evaluation. In this auction structure, bidders continuously increase their offers for the item until only one buyer remains. This process achieves what economists refer to as market efficiency, an optimal state in which the final price reflects the maximum value the buyer is willing to pay for the item. Consequently, the good is assigned to the individual who values it the most [8]. This approach is particularly effective for the goods that are rare or lack a defined market price, such as works of art, antiques, and historical artifacts. Another common type of auction is the Dutch auction, which prioritizes speed of resolution over maximizing revenue. Also known as the Tulip Auction, this method gained notoriety due to its annual occurrence in the Netherlands. In this process, the seller announces an initial price for their harvest, and if no bids are made, the price is gradually lowered in successive rounds until a buyer expresses interest. This participant then agrees to purchase a specified quantity of tulips at the final price established in the last round of the auction. This auction format is particularly effective for perishable items that require prompt sale, such as fish, cheese, and flowers. The versatility of the auctioning processes allows their application in a myriad of cases, adapting itself to each specific situation. While English and Dutch auctions are often associated with the sale of luxury items or perishable goods, other formats have been developed to achieve particular objectives, as highlighted by [9]. Each format presents unique challenges that must be addressed according to the auctioneer's needs. Should a governing body decide to sell a state-owned company or construct athletic arenas for an international event, there may be necessary to achieve certain standards and elevate their significance beyond merely the price paid. This is exemplified in beauty contest auctions, where a committee evaluates each proposal and selects the one that is most impressive, drawing a clear analogy to that type of contest. In theory, the deciding panel aims to maximize societal utility rather than simply minimizing costs or maximizing revenue. These examples provide a brief introduction to scenarios in which the proponent has varying goals and interests. Due to the diverse objectives that each agent may possess,several auction formats have been proposed to address these differences while striving to maximize allocation efficiency. In recent decades, the rapid advancement of telecommunications technologies and the exploration of radio and Internet bandwidth have led to a resurgence of auctions in Economic Theory. [PERSON] (1998) According to [10], spectrum auctions can generate significant revenue for their respective countries. Spectrum auctions involve the transfer of rights to explore a specific band of the electromagnetic spectrum within a designated area. Licenses can vary significantly because the spectrum utilized by telecommunication systems exhibits distinct characteristics based on the frequency range. Although lower-frequency waves can travel greater distances, higher-frequency waves enable faster data transfer but have reduced penetrating power and coverage. In addition, deploying two or more signals on the same frequency can lead to data loss and interference with existing equipment.