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Tamiku [17]
2 years ago
15

Why is it expressly more difficult to determine optimal bidding strategies with correlated values than with independent private

values?
Social Studies
1 answer:
nlexa [21]2 years ago
8 0

<u>The auction process teaches the bidders about other people's </u><u>valuations</u><u>; prior to the auction, the </u><u>bidders </u><u>were not aware of other people's valuations.</u>

What are shill bidders?

  • When a seller places a bid on their own auction with the goal of inflating the winning bid, this is known as shill bidding.
  • In order to submit fictitious bids on the seller's behalf, either the seller themselves or a third party working with the seller can do this.

What is a ghost bidder?

In order to increase the price of the goods or property they are selling, sellers who engage in the practice of "ghost bidding" make fictitious bids on auctions using the names of members they know or pretend to be.

Learn more about shill bidders

brainly.com/question/16984042

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