Multiple Choice
Anna's Antiques expects to get three bidders for the unique china teacup it sells.Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability .If three bidders show up at the auction,and two of the bidders are high-value,what would the winning price be?
A) Just above $100
B) $100
C) Just above $70
D) $70
Correct Answer:
Verified
Correct Answer:
Verified
Q1: In a common-value setting<br>A)Oral auctions tend to
Q2: A second-price auction<br>A)is also called a Vickrey
Q3: Bid-rigging is less likely in<br>A)oral auctions<br>B)English auctions<br>C)first-price
Q5: In common value auctions<br>A)Every bidder know the
Q6: In a common-value auction<br>A)Every bidder knows the
Q7: The optimal bidding strategy for a second-price
Q8: Releasing more information,in a common-value auction is<br>A)Good
Q9: An oral auction<br>A)is also called a Vickrey
Q10: An oral auction<br>A)is also called an English
Q11: Anna's Antiques expects to get two bidders