Examlex
Perform the division.
Auctions
Auction systems in which products or services are offered to the person who presents the highest offer.
Winner's Curse
A phenomenon in auctions where the winning bidder overpays due to overestimation of the item's value.
Optimistic Estimate
An estimate that assumes the most favorable conditions and outcomes for a project or investment.
Bid Shading
A strategy in which buyers deliberately bid lower than their actual valuation of the item to save costs, common in auction contexts.
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