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Why was Joseph Smith driven from New York State?
Vickrey Auction
A sealed-bid auction where the highest bidder wins but pays the second-highest bid price.
Sealed Bid
A method of auction where all bids are submitted confidentially, with the highest bidder winning.
Bid-Rigging Cartel
A secretive agreement between competitors to fix bidding processes to ensure a predetermined outcome.
Winning Bid
The highest offer made in an auction that wins the item or contract being auctioned.
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