Asked by Quitta Moore on Jun 04, 2024
Verified
To attract more bidders,and more aggressive bidders,to your common-value auction
A) withhold relevant information about the value of the object
B) don't allow bidders to know how others are bidding
C) do not allow potential bidders to examine the object too closely
D) hold oral auctions
Common-value Auction
An auction format where the item for sale has the same value for everyone, but bidders have different information about that value.
Oral Auctions
Public sales where goods or services are sold to the highest bidder through verbal bids.
Withhold Information
The act of intentionally not sharing information that may be relevant or required by others for decision-making or other purposes.
- Recognize methods to increase participant engagement and enhance competitive bidding in common-value auctions.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
D
Explanation :
Oral auctions can create a more competitive atmosphere by allowing bidders to see the competition and react in real-time, potentially leading to more aggressive bidding behavior. This can increase the final auction price by encouraging participants to outbid each other.
Learning Objectives
- Recognize methods to increase participant engagement and enhance competitive bidding in common-value auctions.