Multiple Choice
Which of the following is true of an English auction with private values?
A) The bid value can exceed the reservation price of the buyer who wins.
B) A typical buyer shades his/her bid below the true private value.
C) A buyer's optimal bid strategy depends on the bidding behavior of other buyers.
D) The final price is approximately equal to the second highest buyer value.
E) None of these answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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