Sometimes, when more than one unit is auctioned, a descending price auction is modified (modified Dutch auction) so that winning bidders [...], which is the reservation price of the bidder whose bid wins the last units offered.
Sometimes, when more than one unit is auctioned, a descending price auction is modified (modified Dutch auction) so that winning bidders [...], which is the reservation price of the bidder whose bid wins the last units offered.
Sometimes, when more than one unit is auctioned, a descending price auction is modified (modified Dutch auction) so that winning bidders [...], which is the reservation price of the bidder whose bid wins the last units offered.
Answer
all pay the same price
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is the reservation price of the bidder whose bid wins the last units offered.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p19
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.