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Meaning of Vickrey auction | Babel Free

Noun CEFR B2

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.
See all B2 English words →

See also

Vickroy Vicksburg Vicky Vico Vicodin vicomagister

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