The Dutch type of these events differs from the English type in that it has a descending format.
Paul Milgrom and Robert Weber's 1982 paper on these events established the key result that full information in these events results in higher expected revenue; that result was the linkage principle. The first proof for the revenue equivalence theorem was in a 1961 paper on these events by William Vickrey. That paper also proposes a type of these events named after Vickrey, in which the second (*) price is taken. Since 1994, the FCC has distributed licenses for the electromagnetic spectrum through these events. The Dutch type of these events differs from the English type in that it has a descending format. The winner's curse describes the tendency for winners of these events to overpay. For 10 points, in what events are goods bought and sold through bidding?
Paul Milgrom and Robert Weber's 1982 paper on these events established the key result that full information in these events results in higher expected revenue; that result was the linkage principle.
auctions