How can a second-highest sealed-bid ascending-price auction design diminish the winners curse and reduce the strategic underbidding

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How can a second-highest sealed-bid ascending-price auction design diminish the “winner’s curse” and reduce the strategic underbidding that arises in highest-wins- and-pays typical ascending-price auctions with sealed bids?

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Managerial economics applications strategy and tactics

ISBN: 978-1439079232

12th Edition

Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris

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