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Define common-value auction

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Reference no: EM132502236

Question 1: Under the non-strategic view of bargaining, the terms of agreement are determined by

a.? Your opponent's outside options

b.? Your outside options

c.? Your opponents gain from agreement

d.? All of the above

Question 2: The winners curse is worse when

a.? There are fewer bidders

b.? Your rivals do not have as much information as you do

c.? Your rivals have more information than you do

d.? All of the above

Question 3: In a common-value auction

a.? No bidder knows what the exact value of the item being auctioned

b.? Each bidder knows the exact value of the item

c.? The value is different for each bidder

d. ?All of the above

Reference no: EM132502236

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