"Vickrey auction" meaning in English

{
  "etymology_text": "After William Vickrey (1914-1996), Canadian professor of economics.",
  "forms": [
    {
      "form": "Vickrey auctions",
      "tags": [
        "plural"
      ]
    }
  ],
  "head_templates": [
    {
      "args": {},
      "expansion": "Vickrey auction (plural Vickrey auctions)",
      "name": "en-noun"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "noun",
  "senses": [
    {
      "categories": [
        {
          "kind": "other",
          "name": "English entries with incorrect language header",
          "parents": [
            "Entries with incorrect language header",
            "Entry maintenance"
          ],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "Pages with 1 entry",
          "parents": [],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "Pages with entries",
          "parents": [],
          "source": "w"
        }
      ],
      "glosses": [
        "A type of sealed-bid auction, where bidders submit written bids without knowing the bids of others, in which the highest bidder wins but the price paid is the second-highest bid."
      ],
      "id": "en-Vickrey_auction-en-noun-OK6jNXDC",
      "links": [
        [
          "auction",
          "auction"
        ],
        [
          "bidder",
          "bidder"
        ],
        [
          "price",
          "price"
        ]
      ],
      "related": [
        {
          "word": "silent auction"
        }
      ],
      "wikipedia": [
        "Vickrey auction"
      ]
    }
  ],
  "word": "Vickrey auction"
}

{
  "etymology_text": "After William Vickrey (1914-1996), Canadian professor of economics.",
  "forms": [
    {
      "form": "Vickrey auctions",
      "tags": [
        "plural"
      ]
    }
  ],
  "head_templates": [
    {
      "args": {},
      "expansion": "Vickrey auction (plural Vickrey auctions)",
      "name": "en-noun"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "noun",
  "related": [
    {
      "word": "silent auction"
    }
  ],
  "senses": [
    {
      "categories": [
        "English countable nouns",
        "English entries with incorrect language header",
        "English eponyms",
        "English lemmas",
        "English multiword terms",
        "English nouns",
        "Pages with 1 entry",
        "Pages with entries"
      ],
      "glosses": [
        "A type of sealed-bid auction, where bidders submit written bids without knowing the bids of others, in which the highest bidder wins but the price paid is the second-highest bid."
      ],
      "links": [
        [
          "auction",
          "auction"
        ],
        [
          "bidder",
          "bidder"
        ],
        [
          "price",
          "price"
        ]
      ],
      "wikipedia": [
        "Vickrey auction"
      ]
    }
  ],
  "word": "Vickrey auction"
}