Examlex
Warm front precipitation is produced from strataform clouds and are of a more gentle variety than that of cold front precipitation.
Private Values
A situation in auctions where the value of an item is known only to the bidder, not affecting the valuation of the item by other bidders.
Dutch Auction
An auction mechanism where the price starts high and decreases until a bidder accepts the price, securing the sale.
Rational Bidders
Individuals who participate in auctions or bidding processes and make decisions based on maximizing their utility.
Common-Value Auction
In a common-value auction, all bidders have the same valuation for the auctioned item, but they may have different information about the item's actual value.
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