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First-Price Auction/Evidence
Method evidence record

First-Price Auction

A first-price auction is a sealed-bid mechanism where all participants submit bids simultaneously without knowing others' bids. The highest bidder wins and pays their own bid (the price they offered). Systematically analyzed by William Vickrey in 1961, first-price auctions require bidders to balance between winning and profit, leading to strategic underbidding relative to true valuations in equilibrium.

Sources recorded, not reviewed

Source record

Citations copied verbatim from the method’s source record. No claim-level verification is inferred from them.

First-Price Sealed-Bid Auction
Taxonomic method record · ml-model / game-theory
  • Vickrey, W. (1961). Counterspeculation, auctions, and competitive sealed bids. The Journal of Finance, 16(1), 8-37. · DOI 10.1111/j.1540-6261.1961.tb02789.x
  • Krishna, V. (2009). Auction Theory (Second Edition). Academic Press. · URL
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Curated claims

Claims persisted in the evidence ledger, each with its own assessment.

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Related methods

Generated from the method graph and shown as machine-suggested relations — no evidence claim is inferred.

Taxonomic bucketBayesian Nash Equilibriummachine-suggested · Relational suggestion, not evidence.Taxonomic bucketCournot Competitionmachine-suggested · Relational suggestion, not evidence.Taxonomic bucketStackelberg Competitionmachine-suggested · Relational suggestion, not evidence.Taxonomic bucketVCG Mechanismmachine-suggested · Relational suggestion, not evidence.

Evidence status

Sources recorded, not reviewed

Bibliographic sources are present. Claim-level evidence review has not been performed.

Sources

2 recorded citations, copied from the method source record.

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