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In the 1780s, the Creation of Popular Assemblies in the Several

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In the 1780s, the creation of popular assemblies in the several states


Definitions:

Auctions

A sales event where goods or services are sold to the highest bidder in a competitive process.

Bid-rigging

A form of fraud where competing parties conspire to determine the winner of a bidding process, undermining fairness.

Vickery Auctions

An auction format where the highest bidder wins but pays the second-highest bid, encouraging true value bidding.

Sealed-bid Auctions

A bidding process where all bidders submit their bids confidentially, with the highest bid usually winning the item or contract.

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