Examlex
What is the primary method for measuring the opinions of large groups of people?
Bid Shading
A strategy in auctions where bidders intentionally bid lower than their actual value to increase the chance of winning at a lower price.
Bid-rigging
A form of fraud where competitors conspire to determine the winner of a bidding process, undermining fair competition.
English Auctions
A method of sale in which the price ascends and participants bid openly against each other, with the item being sold to the highest bidder.
Sealed-bid Auctions
Auctions in which all bidders simultaneously submit their bids in sealed envelopes, with no bidder knowing the bid of the others.
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