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For an Assignment, Professor Hanson Asks Students to Fill Out

question 5

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For an assignment, Professor Hanson asks students to fill out a form to rate their personality, to fill out the form rating themselves as if they were a good friend, and to ask that same good friend to also fill out the form about them.Students find that their responses as their friends are more similar to their own ratings than to their friends' real responses.Which of the following helps explain this discrepancy:


Definitions:

Oral Auction

A public sale in which goods or property are sold to the highest bidder through spoken bids.

Vickrey Auction

A sealed-bid auction in which the item is awarded to the highest bidder, but the winner pays only the second-highest bid.

Increasing Bids

A situation in an auction where participants continuously raise their bid amounts to outcompete others.

Oral Auction

A public sale where goods or property are sold to the highest bidder through spoken bids, typically led by an auctioneer.

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