Construct · 1 fields · 1 citations

Vickrey auction: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
Vickreyauction1 CONSTRUCTVickrey auctionVICKREY · GAME THEORY

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Game theory

a sealed-bid auction where the highest bidder wins but pays the second-highest bid, making truthful bidding a dominant strategy.

In game theory, Vickrey auction refers to a sealed-bid auction where the highest bidder wins but pays the second-highest bid, making truthful bidding a dominant strategy. This meaning comes from Vickrey (1961) in The Journal of Finance.[1]

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Nearby constructs

first-price auction1 fields · 1 citationsanchor · a standalone constructtender2 fields · 3 citationsjingle · one word, two constructsdominant1 fields · 1 citationsanchor · a standalone construct

References

  1. Vickrey, W. (1961). Counterspeculation, Auctions, and Competitive Sealed Tenders. The Journal of Finance, 16(1), 8-37. https://doi.org/10.1111/j.1540-6261.1961.tb02789.x

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