In a Sealed-Bid, Second-Price Auction, You Should Bid

question 14

Multiple Choice

In a sealed-bid, second-price auction, you should bid

• A)your estimate of what others value the good at.
• B)one dollar more than your estimate of what the second-highest bid will be.
• C)your highest value.
• D)the common value of the good.

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Definitions:

Ocular Disparity

The difference in the visual images that each eye perceives because of the eyes' horizontal separation, which is used for depth perception.

Visual Reference

An object, document, or display that one can look at to obtain information or inspiration.

Binocular Disparity

The difference in image location viewed by the two eyes, which contributes to stereopsis and depth perception.

Astigmatism

A common eye condition resulting in blurred vision due to the irregular shape of the cornea or lens.