Context: With the 2020 Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson for their contribution to auction theory, there is a renewed focus on of such auctions to serve common good and not to maximise the revenues.
Type of Auctions
Failed Instances of auctions in India
Determinants of Auction feasibility
Conclusion: The auctioning of publicly held resources is welcome as it ensures transparency and reduces the scope for corruption. But auctions must also be designed to serve the common good.