Examlex
Find the limit by direct substitution.
Winner's Curse
A phenomenon that occurs in common value auctions, where the winner tends to overpay due to overly optimistic estimation of the asset's value.
Optimistic Estimate
A projection or forecast that assumes the most favorable conditions and outcomes.
Bid Shading
The strategy of making a bid lower than what a bidder is actually willing to pay, typically to save money in auctions or competitive tender processes.
Bid-rigging
An illegal agreement between parties to conspire and fix the bidding process, often in procurement auctions.
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