Examlex
_______ efforts are typically shorter term than ________ efforts are.
Second Highest Bid
In auctions, it is the bid that ranks immediately below the highest bid, often significant in auction types where the winner pays the amount of the second-highest bid.
Vickery Auctions
A type of sealed-bid auction where the highest bidder wins but pays the second-highest bid price, encouraging true valuation in bids.
Oral Auctions
Public sales where goods or services are sold to the highest bidder through verbal bids, often conducted in real-time with an auctioneer.
Sealed Bid Auctions
A type of auction where all bidders submit their bids without knowledge of the bids offered by other participants, often used in government contracts and private sales.
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