The Table Above Lists the Independent Private Values of Five

question 5

Multiple Choice

The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their o value and does not know the private values of the other participants.
-Refer to the table above. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, assume each participant will submit bids using their optimal strategy. If the participants are bidding in a Dutch auction, Bidder _______wins the auction and pays_______ .

• A)#5; 9.5 million
• B)#3; a value less than $10 million and greater than $9.5 million
• C)#5; a value less than $10 million and greater than $9.5 million
• D)#3; $10 million

---

Definitions:

Nitrile Female Condoms

Contraceptive devices made of nitrile, designed to be inserted into the vagina to prevent sperm from entering the uterus, thereby offering protection against pregnancy and sexually transmitted infections.

Human Immunodeficiency Virus

A virus that attacks the immune system, specifically the CD4 cells, leading to a progressive failure of the immune system and increasing susceptibility to opportunistic infections and diseases.

Efficacy

The ability to produce a desired or intended result, often used in the context of therapeutic interventions or medications.

Behavioral Factor

An element of an individual's actions or mannerisms that influences or is determined by their psychological state.