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) Answers c and d are both correct.
Correct Answer:
Verified
Correct Answer:
Verified
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