#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The eventual outcome of Vickrey auction is much like that of an ascending price auction, where the winning bidder pays one increment of price more than the price offered by the bidder who values the item second-most highly.
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- (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
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