This topic contains a solution. Click here to go to the answer

Author Question: This factor contributes to the winner's curse a. your estimate of the value of the object was not ... (Read 255 times)

awywial

  • Hero Member
  • *****
  • Posts: 577
This factor contributes to the winner's curse
 a. your estimate of the value of the object was not the most optimistic
  b. your bid was not the highest
  c. there were not many other bidders you had to beat out
  d. you shaded your bid a lot

Question 2

Consider three ways of allocating two goods in a two-person exchange economy. I. Both individuals take prices as given and equilibrium prices are established by an impartial auctioneer. II. One individual can act as a perfect price discriminator and force the other individual to pay a different price for each unit of a good that is traded. III. One individual is a monopolist and can charge the other individual a single, utility-maximizing price. Which of these situations is efficient?
 a. None of them.
  b. Only I.
  c. I and II, but not III.
  d. I and III, but not II.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nickk12214

  • Sr. Member
  • ****
  • Posts: 332
Answer to Question 1

d

Answer to Question 2

c





 

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

For a complete list of videos, visit our video library