Examlex
Sociologists focus only on unusual patterns of behaviour.
First-Price Auction
An auction format in which the highest bidder wins the item and pays the price they bid.
True Values
The actual, inherent worth or validity of something, often contrasted with perceived or estimated values.
Selling Price
The amount of money a buyer pays to acquire a product or service from a seller.
Vickery Auction
An auction model wherein bidders submit sealed bids, the highest bidder wins but pays the price offered by the second-highest bid, promoting truthful bidding.
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