Interactive Tools

Economic Models

Explore core economic concepts through interactive visualizations — from Keynesian equilibrium to auction theory and inequality measurement.

Second-Price Auction (Vickrey)

Simulate a Vickrey auction where the highest bidder wins but pays the second-highest bid. This mechanism incentivizes truthful bidding — a core concept in mechanism design.

Number of Bidders: 5

Reserve Price: 100

Winner

Bidder 2

Valuation

337

Price Paid

250

Surplus

Vickrey Auction: The dominant strategy is to bid one's true valuation. Winner pays the second-highest bid, ensuring incentive compatibility.

Winner

Eligible

Below Reserve