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Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In [...] auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
a second price sealed bid

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In [...] auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
?

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In [...] auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
a second price sealed bid
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In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is

Original toplevel document (pdf)

owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18

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statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

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