e/Victory auction

Information
has gloss	eng: A victory auction is a type of auction in which the bidders to purchase an object write down their bids, and the bidder with the highest bid wins, but pays the price bid by the second highest bidder. The object of a victory auction is to discourage gaming of an auction, where people propose prices less than they are willing to pay in order to pay less than the maximum price they would pay, instead the auction does this automatically, by giving the win to the highest bidder, but at the price which was the one just below theirs. See also *English auction References
lexicalization	eng: victory auction
instance of	c/Auctions and trading