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2. Vickrey auction - Wikipedia

   en.wikipedia.org/wiki/Vickrey_auction

   t. e. 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 ...

3. Auction - Wikipedia

   en.wikipedia.org/wiki/Auction

   An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with ...

4. 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]

5. Dutch auction - Wikipedia

   en.wikipedia.org/wiki/Dutch_auction

   A Dutch auction initially offers an item at a price in excess of the amount the seller expects to receive. The price lowers in steps until a bidder accepts the current price. That bidder wins the auction and pays that price for the item. For example, a business might auction a used company car at a starting bid of €15,000.

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7. Glossary of contract bridge terms - Wikipedia

   en.wikipedia.org/wiki/Glossary_of_contract...

   Free bid A bid that is made when a pass would still allow partner to make a bid. Normally used of a bid that is made after partner has opened the bidding and RHO has overcalled. Compare with Negative free bid. Free finesse A position in which a player leads up to an opponent's tenace, solving that opponent's possible guess. The term is normally ...

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