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A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders. The auction system assigns the items in a socially optimal manner: it charges each individual the harm they cause to other bidders. [1]
On September 10, 2011, Freeman's held an auction that brought $3.5 million for an Imperial white jade seal from the Qianlong period, triple the highest sale in the company's history. [9] Other notable auction records set at Freeman's include a sculpture by Wharton Esherick as part of their annual Pennsylvania Sale in November 2014. [10]
A Vickrey auction or sealed-bid second-price auction (SBSPA) is a type of sealed-bid auction. Bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins but the price paid is the second-highest bid. This type of auction is strategically similar to an English auction and gives bidders an ...
The first pre-compliance auction of RGGI CO 2 allowances took place in September 2008. Regional auctions are held on a quarterly basis and are conducted using a sealed-bid, uniform price format. [31] Since 2008, the RGGI states have held 54 auctions generating over $4.7 billion in proceeds. Auction clearing prices have ranged from $1.86 to $13 ...
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(Reuters) -Pennsylvania election officials will be able to notify voters of any mistakes in their mail-in ballots and let them make changes, the state's top court ruled, in a blow to Republicans ...