# Vickrey auction

> English word · Noun

## Definitions
1. A type of sealed-bid auction, where bidders submit written bids without knowing the bids of others, in which the highest bidder wins but the price paid is the second-highest bid.

## Etymology
After William Vickrey (1914-1996), Canadian professor of economics.

## Source
Compiled from Wiktionary via kaikki.org (CC BY-SA). Data vintage: 2026-05-06.
Canonical page: https://plainspell.com/en/word/vickrey-auction