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@@ -23,7 +23,7 @@ In the present lecture, a single good is allocated to one person within a set of

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Here we'll learn about and simulate two classic auctions :

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* a First-Price Sealed-Bid Auction (FPSB)

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* a Second-Price Sealed-Bid Auction (SPSB) created by William Vickery {cite}`Vickrey_61`

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* a Second-Price Sealed-Bid Auction (SPSB) created by William Vickrey {cite}`Vickrey_61`

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We'll also learn about and apply a

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@@ -112,7 +112,7 @@ $$ (eq:optbid2)

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A proof for this assertion is available at the [Wikepedia page](https://en.wikipedia.org/wiki/Vickrey_auction) about Vickery auctions

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A proof for this assertion is available at the [Wikepedia page](https://en.wikipedia.org/wiki/Vickrey_auction) about Vickrey auctions

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@@ -129,7 +129,7 @@ In a SPSB auction bidders optimally choose to bid their values.

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Formally, a dominant strategy profile in a SPSB auction with a single, indivisible item has each bidder bidding its value.

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A proof is provided at [the Wikepedia

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page](https://en.wikipedia.org/wiki/Vickrey_auction) about Vicker auctions

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page](https://en.wikipedia.org/wiki/Vickrey_auction) about Vickrey auctions

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Read the original on github.com ↗