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.
Winner
Bidder 5
Valuation
492
Price Paid
440
Surplus
52
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
