1. Cricket's Indian Premier League (IPL) uses an English auction to assign players to teams each year. In an English auction, the teams publicly announce their successive higher bids until no higher bid is forthcoming, at which point the auctioneer pronounces the player is sold to the highest bidder at the bidder's price. What are the pros and cons of using an English auction in the IPL from the perspective of the teams who bid for the players?

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Pros of using an English auction in the IPL from the perspective of the teams 1 Transparency English auctions are conducted publicly allowing all part... View the full answer