Hello everyone, I'm trying to read an economics paper on competitive auction pricing and I'm still coming up to speed with some of the concepts. As the title says, why is the clearing price of a uniform price auction the S + 1st highest of B buyers values? In this case each Seller has only 1 unit and each buyer demands only 1 unit. From a basic Supply/Demand curve I can see that the eq. would be where the S intersects Buyer demand but why S + 1st? Maybe its something obvious but I appreciate the help. Not too much information online about uniform price auctions.