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Author Question: This factor contributes to the winner's curse a. your estimate of the value of the object was not ... (Read 62 times)

awywial

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on: Jul 1, 2018
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.


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nickk12214

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


awywial

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Reply #2 on: Jul 1, 2018
Correct answers!


nickk12214

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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