A Vickrey auction or sealed-bid second-price auction (SBSPA) is a type of sealed-bid auction. Bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins but the price paid is the second-highest bid.

2022年5月30日 · Vickrey Auction is a type of sealed-bid auction. Like with any other sealed-bid auction, in this auction, also bidders submit the bids without knowing what the other bidders have bid for.

Vickrey auction is a type of auction where all the bidders will bid for their true value or worth and will have the maximum willingness to pay for the highest price to stand as the winner of the bid.

A Vickrey auction is a sealed-bid auction where bidders submit bids without knowing the bids of other people. However, as opposed to other sealed-bid auctions, the price paid is the second-highest bid price and not the winning bid price.

A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders.

The Vickrey auction is a sealed-bid auction where the high bidder wins but pays the second-highest bid. The Vickrey auction is also called a second-price auction: the price is not the highest bid but the second-highest bid.

The Vickrey auction is a sealed-bid auction where the high bidder wins but pays the second-highest bid. The Vickrey auction is also called a second-price auction: the price is not the highest bid but the second-highest bid.

Are there rules for a silent auction that will induce people to bid what they think an object is truly worth? The answer is yes, and is given by a Vickrey auction.

Vickrey's second-price, sealed-bid auction has received the most recognition for nonmarket valuation. The standard version of the auction Vickrey and the Second-Price Auction works as follows. Participants record their bid and submit it to the monitor, and the highest Common knowledge about each bidder's ratio- bidder pays the second highest bid.

The classic English auction of Sotheby’s and Christie’s, in which bidders iteratively submit successively higher bids and the final bidder wins the item in return for a payment equaling his final bid, is closely related to Vickrey’s second-price sealed-bid auction, but long predates it.