abstract:Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
In between Bidder J showing up for this drama, and Crest Financial initiating a proxy solicitation to minority shareholders, Charlie Ergen and DISH showed up to make a new bid for not just Clearwire but the whole entity of Sprint and Clearwire, or Sprint and not Clearwire.