There Are Five Risk-Neutral Bidders,each Having a Private Value That

question 34

Multiple Choice

There are five risk-neutral bidders,each having a private value that is independently drawn from the range $60 thousand to $120 thousand with all values in between equally likely.The respective expected revenues (in thousand $) from the English [E(PE) ] and sealed-bid [E(PS) ] auctions would be:

• A)E(P_E)= $100 and E(P_S)= $110.
• B)E(P_E)= E(P_S)= $96.
• C)E(P_E)= E(P_S)= $100.
• D)E(P_E)= $96 and E(P_S)= $108.
• E)E(P_E)= E(P_S)= $110.

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Definitions:

Force Field Analysis

A tool developed by Kurt Lewin, used to analyze the forces for and against a change, helping in the identification of factors that could be strengthened or reduced to support the achievement of a goal.

Force Field Model

A framework proposed by Kurt Lewin to analyze the factors (forces) that influence the change process, with forces aiding change termed as driving forces and those opposing as restraining forces.

Restraining Forces

Factors that hinder or limit the process of change within an organization or individual's behavior.

Changed Behaviors

Modifications or adjustments in one's actions or reactions as a result of experiences or interventions.