Examlex
Match each term with the correct definition below:
-?A form of compression that uses an algorithm similar to rounding off decimal values to eliminate unnecessary bits of data.
Auctions
Auction systems in which products or services are offered to the person who presents the highest offer.
Winner's Curse
A phenomenon in auctions where the winning bidder overpays due to overestimation of the item's value.
Optimistic Estimate
An estimate that assumes the most favorable conditions and outcomes for a project or investment.
Bid Shading
A strategy in which buyers deliberately bid lower than their actual valuation of the item to save costs, common in auction contexts.
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