Serious 3NT Serious 3NT Serious 3NT is a contract bridge bidding convention. It is used in game-forcing auctions where a major suit has been agreed upon. 1–2 if using 2/1 Game Forcing or 2–3 (Agreeing spades) The next bid indicates suitability for slam: Since Spades are the agreed trump suit, Three No Trump is not usually the best contract. Using Serious Three No Trump, a bid of Three No Trump says "I am Serious about slam", i.e. "I have a good hand". Bypassing bidding Three No Trump says "I am not Serious about Slam". Examples shown in the above auction. If one
Vickrey auction willing to accept a higher price. Suppose that a buyer's valuation is formula_12 and the current asking price is formula_13. If formula_14 and the buyer is not the current high bidder, it is more profitable to bid than to let someone else be the winner. Thus it is a dominant strategy for a buyer to drop out of the bidding when the asking price reaches his or her valuation. Thus, just as in the Vickrey sealed second price auction, the price paid by the buyer with the highest valuation is equal to the second highest value. Consider then the expected