The more bidders there are at a second-price auction,
a. the higher the expected selling price
b. the higher each bidder bids
c. the more each bidder will shade his bid
d. the less each bidder will shade his bid
a
You might also like to view...
The policy directive from the FOMC is carried out by
A) the presidents of the district banks. B) the presidents of commercial banks that are members of the Federal Reserve System. C) the account manager at the Federal Reserve Bank of New York. D) private dealers in the bond market.
Which of the following would make a player more inclined to continue into later stages of the Centipede Game rather than ending the game immediately? (Choose all that apply.) a. The subgame-perfect equilibrium is to continue as long as possible because the payoffs eventually get much larger. b. An increase in the chance that your rival has difficulty performing a long chain of deductions
c. An increase in the chance that your rival believes you have difficulty solving a long chain of deductions. d. Altruism toward one's rival.