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In my work life in States, we, friends who worked together would often go for afternoon lunch together. It was in one of those times, I learnt a phrase, "Let us go dutch". I was told that the meaning of that phrase was that each of us would pay our individual bill. 

Yesterday, in one of the trading books, I came across a term 'Dutch Auction'.

Wondering if these two were interconnected, I browsed wikipedia "http://en.wikipedia.org/wiki/Dutch_auction".  

The description in wikipedia is : 

Dutch auction is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer's price, or a predetermined reserve price (the seller's minimum acceptable price) is reached. The winning participant pays the last announced price.

Interestingly, The Dutch auction is named for its best known example, the Dutch tulip auctions. However, in, the dutch land - Netherlands this type of auction is actually known as a "Chinese auction". 

There is more information in wikipedia on the usage of 'Dutch Auction' in "Public offerings" and on "Share repurchases".

In general, I find a theme that this term is used to describe quick auctions in all contexts.

Thanks to wikipedia for the information and freefoto.com for the picture.

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