If the Personal Value of One of the Buyers Is

Multiple Choice

If the personal value of one of the buyers is drawn from a distribution with a higher range of values than the other buyers, then which of the following statement is correct?

A) Expected revenue of the English auction will be equal to that of the sealed-bid auction.
B) Expected revenue of the English auction will be greater than that of the sealed-bid auction.
C) Expected revenue of the sealed-bid auction will be greater than that of the English auction.
D) Expected revenue of the sealed-bid auction will be smaller than that of second-price auction.
E) Expected revenue of the Vickrey auction will be greater than that of sealed-bid auction.