Meaning of Vickrey auction | Babel Free
Definitions
A type of sealed-bid auction, where bidders submit written bids without knowing the bids of others, in which the highest bidder wins but the price paid is the second-highest bid.
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.