The eventual outcome of Vickrey auction is much like that of [...]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.
The eventual outcome of Vickrey auction is much like that of [...]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.
The eventual outcome of Vickrey auction is much like that of [...]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.
Answer
an ascending price (English)
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Parent (intermediate) annotation
Open it 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.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
Summary
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not learned
measured difficulty
37% [default]
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