#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
An example of a private value auction is an auction of art or collectibles. The value that each bidder places on an item is the value it has to him, and we assume that no bidder will bid more than that.
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iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
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