[...]auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
[...]auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
[...]auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
Answer
A descending price
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Parent (intermediate) annotation
Open it A descending price auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.</b
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
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