Briefly describe the difference between the mechanism of an oral or English auction

English vs. Vickrey Auction
Briefly describe the difference between the mechanism of an oral or English auction and a Vickrey or second price auction. Is there any difference between the winning bidders in the two auctions, and the winning payments made in the two auctions? Briefly explain.

 

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Briefly describe the difference between the mechanism of an oral or English auction was first posted on April 24, 2020 at 2:19 pm.
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