5.Analyses begin with simplifying all kinds of auctions into four “standard” or basic types of auctions: English Auction (ascending-bid auction), Dutchauction (descending-bid auction), First Price Auction and Second Price Auction (Vickrey Auction).
7.Costs and sizes of IIS are consideration fo the selection of issue procedure, which could be Dutchauction, American (English) auction, or in tap form.
10.Despite perfect reasoning of RET, it does not match what we have observed in practice, that is, a seller can obtain the same expected revenue from English auction and Dutchauction, but less from Second Price auction, and the least from First Price auction.