whose amount that they were going to pay is the second highest amount.

支付第二高出价
Does that make sense?

这样有意义么
So in an ascending open auction the winner,

在公开增价拍卖中赢家
the person who has the highest intended bid,

那个有最高出价意愿的人
actually pays the highest intended bid of the second highest player.

支付第二高出价人所出的最高价
So an ascending open auction is structurally very similar to

所以公开增价拍卖在结构上
these sealed bid auctions,

和密封拍卖非常相似
which is really why the sealed bid auctions are interesting.

这也是这些密封拍卖的趣味所在
Now, having said that, they're not exactly the same,

好了刚才说过它们并不完全一样
and the reason they're not exactly the same is

它们不完全一样的理由是
that if in fact the good for sale has common value

如果拍卖的物品有相同的价值
then we might learn something by the fact that the hands are up.

那么我们通过别人举手可以获得一些信息