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A first-price sealed-bid auction is a form of auction where bidders submit one bid in a concealed fashion. The submitted bids are then compared and the person with the highest bid wins the award, and pays the amount of his bid to the seller. This differs from a standard English auction in that bids are not open or called; bidders must submit valuations based upon supposed market value and their own willingness to pay — as opposed to engaging in competition through relative prices with other bidders. Other forms of auction include the Vickrey auction, or second price auction, where the highest bidder wins but pays only the second-highest bid. This type of auction is used at the London Gold Exchange. This economics or finance-related article is a stub. You can help Wikipedia by expanding it.Categories: Auctioneering | Auction theory | From Wikipedia under the
GNU Free Documentation License  archives.emergic.org rajesh hu, 09 Mar 2006 17:38:39 GM What makes Google's auction so different? Auctions come in two main flavors. In a typical . first. -. price auction. , participants put in . sealed. bids, then the winner pays his or her bid. But the danger is the high-bidder ends up regretting ... From Google Blog Search: "Sealed first-price auction"  news.google.com Seeking Alpha (blog) Further, it was a first price , sealed bid auction . I estimated that the Chrysler auction came much closer to my middle estimate of the theoretic value of ... and more » From Google News Search: "Sealed first-price auction"  parkroyal.org 98px x 130px | 19.80kB [source page] PRP members can put posters in PRP s poster frames at North Acton and Hanger Lane PRP members can take part in a sealed first price auction to put posters in PRP s poster frames outside North Acton and Hanger Lane stations 6 August 2008 Read More >  scienceblogs.com 173px x 500px | 36.80kB [source page] brain scanning technique called functional resonance magnetic imaging fMRI to study the brains of 17 volunteers as they played two games a two player auction or a single player lottery The auction was a first price sealed bid game where players had one chance to put forward a bid for an object of a given value They would be rewarded accordingly if they successfully From Yahoo Image Search: "Sealed first-price auction" |
