Known as a "second-price" or Vickrey auction for anybody who wants to read some auction game theory: https://en.wikipedia.org/wiki/Vickrey_auction https://en.wi

Known as a "second-price" or Vickrey auction for anybody who wants to read some auction game theory: https://en.wikipedia.org/wiki/Vickrey_auction https://en.wikipedia.org/wiki/Vickrey_auction