First Price Auction (FPSBA)

First Price Auction (FPSBA)

First Price Auction (FPSBA)

A first-price sealed-bid auction (FPSBA), also known as “blind auction”, is a common type of auction, during which all bidders simultaneously submit sealed bids, so that no bidder knows the bid of any other participant. The highest bidder wins the auction and pays the price they submitted.

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