Examlex
Why is it impossible to develop the perfect classification system?
Bidders
Individuals or entities that offer to pay a certain price for goods, services, or assets in an auction or competitive bidding process.
Common-value Auction
An auction format where the item for sale has a value that is essentially the same for all bidders, but the bidders may have different information about that value.
Oral Auctions
Auctions where bids are made verbally, allowing for real-time, competitive bidding among participants.
Reveal Information
The act of making previously unknown or secret information known to others.
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