Which of the Following Auctions Are Strategically Equivalent for Bidders

question 4

Multiple Choice

Which of the following auctions are strategically equivalent for bidders holding private values?

• A)English auction and Dutch auction
• B)Sealed-bid auction and second-price auction
• C)English auction and Vickrey auction
• D)Vickrey auction and Dutch auction
• E)Vickrey auction and sealed-bid auction

---

Definitions:

Unilateral Contract

A contract in which one party promises to perform a specific action in return for a performance, not a promise, by the other party.

Consideration

Consideration in contract law refers to something of value exchanged between parties as part of an agreement.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party to any obligation, making it unenforceable as a contract.

Liquidated Debt

A debt or claim whose precise monetary value has been determined, acknowledged, or agreed upon by all involved parties.