What kind of auction allows for multiple rounds of bidding?

A multi-parcel auction is specifically designed to allow for multiple rounds of bidding on several items or parcels at once. In this auction format, bidders can participate in various rounds, adjusting their bids based on the other participants' actions. This creates a dynamic environment where participants can reevaluate their bids as the auction progresses, often leading to increased engagement and competition for the items being auctioned.

In contrast, a sealed bid auction requires bidders to submit their bids confidentially and doesn't allow for subsequent rounds of bidding. A fixed-price auction offers items at a set price, allowing no room for bidding at all. A reverse auction, where sellers compete to offer the lowest price to a buyer, also does not feature multiple rounds of bidding among buyers, rather the competition occurs among sellers. Therefore, the multi-parcel auction stands out as the format that supports this iterative and competitive bidding process.