Post
Topic
Board Economics
Re: Vickrey system in exchanges?
by
Topazan
on 03/11/2014, 21:13:14 UTC
I see.  Sounds like a pretty good system, but the advantage of the "second-highest" system is that in a normal system, the buyers have to worry about what other people are bidding, so they don't bid too high.  In a Vickrey system, they are never charged more than they had to pay to win.