Second-price sealed-bid auctions are commonly called _____ auctions.
A) open-outcry
B) Vickrey
C) double
D) Dutch

Name: Second-price sealed-bid auctions are commonly called _____ auctions. A) open-outcry B) Vickrey C) double D) Dutch
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Question

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Second-price sealed-bid auctions, where the highest bidder wins but pays the second-highest bid price, are commonly known as Vickrey auctions after their inventor, Nobel laureate William Vickrey.

Second-Price Sealed-Bid Auctions Are Commonly Called _____ Auctions