Examlex
State encompasses an object's properties and the values of those properties.
Vickrey Auction
A sealed-bid auction where the highest bidder wins but pays the amount bid by the second-highest bidder.
Willingness To Pay
The maximum amount an individual is ready to spend to acquire a good or service.
Expected Revenue
The forecasted amount of money that a business anticipates receiving over a certain period, based on projected sales volume and unit price.
Probability
A gauge for the chances of an event taking place, measured by numbers from 0 to 1.
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