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  2. Slave Auction Block, Fredericksburg - Wikipedia

    en.wikipedia.org/wiki/Slave_Auction_Block...

    Tichnor Brothers linen-era postcard. The Slave Auction Block in Fredericksburg, Virginia is a large stone that was used as an auction block in slave auctions.It was located on the corner of William Street and Charles Street, and is listed on the National Register of Historic Places as part of the Fredericksburg Historic District.

  3. Vickrey auction - Wikipedia

    en.wikipedia.org/wiki/Vickrey_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 incentive to bid their true value. The auction was first described academically by Columbia ...

  4. Vickrey–Clarke–Groves auction - Wikipedia

    en.wikipedia.org/wiki/Vickrey–Clarke–Groves...

    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]

  5. First-price sealed-bid auction - Wikipedia

    en.wikipedia.org/wiki/First-price_sealed-bid_auction

    A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted. [2]: p2 [3]

  6. Auction sniping - Wikipedia

    en.wikipedia.org/wiki/Auction_sniping

    This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if an item's current maximum high bid is 57 and someone is prepared to pay 100 and bids accordingly, the displayed bid will be 58, with the hidden maximum of 100.

  7. English auction - Wikipedia

    en.wikipedia.org/wiki/English_auction

    An English auction is an open-outcry ascending dynamic auction. It proceeds as follows. The auctioneer opens the auction by announcing a suggested opening bid, a starting price, or a reserve for the item on sale. Then the auctioneer accepts increasingly higher bids from the floor and sometimes from other sources, for example online or telephone ...

  8. All-pay auction - Wikipedia

    en.wikipedia.org/wiki/All-pay_auction

    The most straightforward form of an all-pay auction is a Tullock auction, sometimes called a Tullock lottery after Gordon Tullock, in which everyone submits a bid but both the losers and the winners pay their submitted bids. [5] This is instrumental in describing certain ideas in public choice economics. [citation needed]

  9. Common value auction - Wikipedia

    en.wikipedia.org/wiki/Common_value_auction

    In a sealed-bid second-price auction, there is a SBNE with =, i.e., each bidder bids exactly his/her signal. PROOF: The proof takes the point-of-view of Xenia. We assume that she knows that Yakov bids r Y {\displaystyle rY} , but she does not know Y {\displaystyle Y} .