Appendix: Incentive-compatible revelation mechanisms attempt to ...

[burchfield96]

Appendix: Incentive-compatible revelation mechanisms attempt to
 a. induce an employee to reject the next best alternative employment opportunity
  b. elicit privately-held information
  c. secure enforcement primarily by third parties
  d. reject voluntary contracting with third parties
  e. impose similar risk premiums on all employees

Question 2

If the bidders at an oral auction have true values of 8, 7, 6, and 5, the item will sell for
 a. 8
  b. 7
  c. just over 7
  d. just under 7

[aruss1303]

Answer to Question 1

b

Answer to Question 2

c

[burchfield96]

Wow, this really help

[amit]

Thanks for the timely response, appreciate it