Which auction type is a digital buying model where the highest bidder above the floor price wins the auction,and pays exactly the amount they bid?

A first-price auction is a digital buying model where the highest bidder above the floor price wins the auction and pays exactly the amount they bid. This is a straightforward auction type where transparency in bidding is key, as bidders understand they will pay their exact bid if they win. In contrast, a second-price auction (also known as a Vickrey auction) is where the highest bidder wins but pays the price of the second-highest bid. This mechanism encourages bidders to bid their true valuation, as overbidding doesn't incur a higher cost than necessary to win, and underbidding risks losing the impression.