text_combined: sorry thank vince really like idea thank chonawee vince j kaminski ect 01 04 2001 05 17 pm chonawee supatgiat corp enron enron cc vince j kaminski hou ect ect subject sorry chonawee perfectly right matter fact expect encourage members group disagree anybody else subject never offended take manifestation ability think independently courage one convictions nobody monopoly truth nobody knows everything way learn avoid costly errors company open communication enron facts friendly way excellent presentation vince chonawee supatgiat enron 01 04 2001 03 10 pm vince j kaminski hou ect ect cc subject sorry hi vince sorry correcting revenue different auctions vickrey 1961 showed 4 kinds auctions would yield expected revenue auctioneer dutch english first price sealed bid second price sealed bid fact selling price equal valuation second highest bidder example vickrey auction everyone bids valuation hence winner pays valuation second highest bidder english auction second highest valuation bidder stop competing price valuation hence winner also gets item price second highest valuation bidder thank attending meeting giving many helpful contributions chonawee