This peculiar twist has a radical effect on the bidders’ incentives. In a first-price sealed-bid auction, bidders are incentivized to shade their bids—that is, to offer less than what they consider the object’s true value to avoid overpaying. But in a second-price sealed-bid auction (also called a Vickrey auction) the best move would be to bid an amount equivalent to the object’s worth to you. No game-playing is required.