The expected revenues in auctions with risk-averse bidders with independent private values will be:
A. English = Second price = First price = Dutch.
B. English > Second price > or < First price = Dutch.
C. English > Second price > First price = Dutch.
D. First price = Dutch > English = Second price.
Answer: D
You might also like to view...
Which of the following applies to discouraged workers?
(A) They are included in the unemployment rate. (B) They are workers who were injured on the job and can no longer work. (C) They are workers who move to another country to look for work. (D) They are not included in the unemployment rate.
If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?
a. The quantity of milk demanded will increase. b. The quantity of milk supplied will decrease. c. There will be a surplus of milk. d. There will be a shortage of milk.