7 ms·
You're confused. It's the Vickrey auction which is second-price. English auctions are first-price. First-price sealed-bid auctions are different from Vickrey au
by archon1410 2y ago
You're confused. It's the Vickrey auction which is second-price. English auctions are first-price. First-price sealed-bid auctions are different from Vickrey auctions.