Vickrey auction

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English[edit]

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Wikipedia

Etymology[edit]

After William Vickrey (1914-1996), Canadian professor of economics.

Noun[edit]

Vickrey auction (plural Vickrey auctions)

  1. A type of sealed-bid auction, where bidders submit written bids without knowing the bids of others, in which the highest bidder wins but the price paid is the second-highest bid.

See also[edit]