In a Standard Highest Sealed-Bid Auction, a Bidder's Best Strategy

Multiple Choice

In a standard highest sealed-bid auction, a bidder's best strategy:

A) is to bid what he or she would be willing to pay.
B) is to bid slightly more than what he or she expects the second highest bidder to bid.
C) always ensures that the person who wants it the most will get the bid.
D) requires the bidder to understand game theory to bid properly.