Least unique bid auction
= Least unique bid auction
= Lowest unique bid auction
{synonym}
Each bidder chooses a permitted amount. The bidder with the smallest amount submitted by exactly one bidder wins and pays that amount; if no amount is unique, nobody wins. With object value $V$, the winner's payoff is $V$ minus their bid, and losers pay nothing. Unlike a <first-price sealed-bid auction>, repeated lowest bids can be disqualified.