Which Auctioned Good Is More Likely to Have Different Private

question 21

Multiple Choice

Which auctioned good is more likely to have different private values across potential bidders?

• A) a truckload of sand
• B) a Monet painting
• C) a brand new car
• D) a gold bar

---

Definitions:

Inhibitory

Pertains to any process or substance that slows down or stops a particular reaction or activity.

Basic Drives

Fundamental biological impulses that drive behavior, such as hunger, thirst, sleep, and reproduction.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, thirst, hunger, and other homeostatic systems, and involved in sleep and emotional activity.

Cerebral Cortex

Outer gray matter layer of the cerebrum; region responsible for most complex behavior.