Which of the following auctions are strategically equivalent for bidders holding private values?
A) The English and Dutch auctions.
B) The sealed-bid and second-price auctions.
C) The English and Vickrey auctions.
D) The Vickrey and Dutch auctions.
E) The Vickrey and sealed-bid auctions.

Question

Quizplus · Accepted Answer

The English auction (open ascending price) and the Vickrey auction (sealed-bid second-price) are strategically equivalent because, in both, the optimal strategy for bidders with private values is to bid their true valuation.

Which of the Following Auctions Are Strategically Equivalent for Bidders