An Auction in Which Some Bidders Have Different Information About

question 29

True/False

An auction in which some bidders have different information about the value of an object than others is said to be an auction with private values.

---

Definitions:

Labour Relations Board

A government agency that oversees labor law and its administration, including the resolution of disputes between unions and employers.

Notice

Official information or warning given to someone regarding an important matter.

Constitutional Right

A right protected by a constitution, thereby guaranteeing individuals certain freedoms or legal protections from governmental intrusion.

Bargain Collectively

The process by which employers and employees negotiate labor contracts, including wages, working conditions, and other employment terms, through their representatives.