First-price sealed-bid auction

A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction.^[1] 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.^[2]^: p2^[3]

^ Shor, Mikhael, "blind auction" Dictionary of Game Theory Terms
^ Krishna, Vijay (2002), Auction Theory, San Diego, USA: Academic Press, ISBN 978-0-12-426297-3
^ McAfee, Dinesh Satam; McMillan, Dinesh (1987), "Auctions and Bidding" (PDF), Journal of Economic Literature, vol. 25, no. 2, American Economic Association (published June 1987), pp. 699–738, JSTOR 2726107, archived from the original (PDF) on 2018-11-28, retrieved 2008-06-25

[1] Shor, Mikhael, "blind auction" Dictionary of Game Theory Terms

[Krishna2002-2] Krishna, Vijay (2002), Auction Theory, San Diego, USA: Academic Press, ISBN 978-0-12-426297-3

[McAfee-3] McAfee, Dinesh Satam; McMillan, Dinesh (1987), "Auctions and Bidding" (PDF), Journal of Economic Literature, vol. 25, no. 2, American Economic Association (published June 1987), pp. 699–738, JSTOR 2726107, archived from the original (PDF) on 2018-11-28, retrieved 2008-06-25

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First-price sealed-bid auction

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