double auction meaning

[Economics]
An auction in which bids and offers are competitive. An important example is an open outcry market, in which buyers and sellers shout out the prices at which they are willing to trade. If a buyer and a seller shout out the same price a deal is concluded and subsequently confirmed by written contract.

Examples

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1. review on the smith's mystery and development of double auctions
2. in a double auction, buyers and sellers both make price bids
3. in a double auction, buyers and sellers both make price bids
4. in a double auction, buyers and sellers both make price bids
5. in a double auction, buyers and sellers both make price bids