Statements (56)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:market
|
| gptkbp:applies_to |
public goods
|
| gptkbp:benefits |
potential for collusion
truthful bidding |
| gptkbp:can_lead_to |
revenue equivalence theorem
|
| gptkbp:characteristic |
second-price bidding
|
| gptkbp:designed_by |
gptkb:William_Vickrey
|
| gptkbp:first_introduced |
gptkb:1961
|
| https://www.w3.org/2000/01/rdf-schema#label |
Vickrey auction
|
| gptkbp:is |
open auction
|
| gptkbp:is_a |
strategy-proof auction
|
| gptkbp:is_analyzed_in |
gptkb:strategy
|
| gptkbp:is_applied_in |
private sales
|
| gptkbp:is_common_in |
everyday transactions
small-scale auctions |
| gptkbp:is_compared_to |
Dutch auction
English auction |
| gptkbp:is_considered |
a mechanism design problem
a fair auction format a benchmark for auction formats a theoretical auction model |
| gptkbp:is_criticized_for |
lack of transparency
|
| gptkbp:is_efficient_when |
bidders have private values
|
| gptkbp:is_evaluated_by |
expected utility theory
social welfare functions |
| gptkbp:is_explored_in |
gptkb:economic_analysis
economic literature experimental economics auction design research market design research mechanism design research |
| gptkbp:is_influenced_by |
information asymmetry
bidders' risk preferences |
| gptkbp:is_popular_in |
government auctions
|
| gptkbp:is_related_to |
sealed bid first-price auction
sealed bid second-price auction |
| gptkbp:is_used_in |
art auctions
bidding strategies online auctions real estate auctions charity auctions |
| gptkbp:is_used_to |
maximize seller's revenue
encourage competition minimize bidder's regret |
| gptkbp:outcome |
highest bidder wins but pays second-highest bid
|
| gptkbp:prize_pool |
honest valuation
|
| gptkbp:promotes |
efficient allocation
|
| gptkbp:related_to |
auction theory
|
| gptkbp:requires |
bidders to submit sealed bids
|
| gptkbp:suitable_for |
common value auctions
situations with risk-averse bidders situations with correlated values |
| gptkbp:type |
sealed-bid auction
|
| gptkbp:used_in |
spectrum auctions
|
| gptkbp:bfsParent |
gptkb:William_Vickrey
|
| gptkbp:bfsLayer |
6
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