Appendix: An incentive-compatible mechanism for revealing true ...

[tth]

Appendix: An incentive-compatible mechanism for revealing true willingness to pay in a private value auction is
 a. impossible
  b. a Dutch auction
  c. a second-highest sealed bid auction
  d. a sequential auction with open bidding
  e. a discriminatory price all-or-nothing auction.

Question 2

An oral auction
 a. is also called an English auction
  b. is where bidders submit increasing bids until all but one remains
  c. is where the sole remaining bidder wins and pays his winning bid
  d. all of the above

[ApricotDream]

Answer to Question 1

c

Answer to Question 2

d

[tth]

Thank you

[ApricotDream]

No problemo