Google used a Dutch auction in their IPO. But then again they are pretty obsessed with auctions. There is some research on auctions for IPOs, e.g. <a href="http:&#x2F;&#x2F;www.nber.org&#x2F;papers&#x2F;w16214" rel="nofollow">http:&#x2F;&#x2F;www.nber.org&#x2F;papers&#x2F;w16214</a>, that suggests they are too complex for investors.