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Transcript
Vickrey auction ⢠Similar in spirit to proxy bidder on eBay or Vickrey auction in economics ⢠One item to sell, many bidders â English auction: person with highest value wins, pays price equal to second highest value+ bid increment â Vickrey auction: award item to highest bidder, who pays 2nd highest price ⢠Always want to truthfully reveal your value in Vickrey auction SIMS
