#first-price_sealed-bid_auction
First-price sealed-bid auction
Auction where all participants concurrently submit undisclosed bids
A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted.
Sat 13th
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