#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
In a sealed bid auction, each bidder provides one bid, which is unknown to other bidders. The bidder submitting the highest bid wins the item and pays the price bid.
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iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
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