What is Vickrey auction?
A Vickrey auction is a sealed-bid auction in which the highest bidder wins and pays the second-highest bid.
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Vickrey auction in AI data
It rewards honest bidding, which is why it features in market-design papers on data.
Type: auction format. Also written: second-price auction.
Read more: auction mechanisms / vickrey auction.
Where Vickrey auction applies on this site
- Mechanism: Vickrey auction
- Guide: What is an AI data auction?
Quick answers
What is Vickrey auction?
A Vickrey auction is a sealed-bid auction in which the highest bidder wins and pays the second-highest bid.
Why does Vickrey auction matter in AI data?
It rewards honest bidding, which is why it features in market-design papers on data.