Last modified on 11 November 2012, at 01:03

Vickrey auction

EnglishEdit

Wikipedia has an article on:

Wikipedia

EtymologyEdit

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

NounEdit

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 alsoEdit