#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
In Dutch auction, if the first (highest) bidder agrees to buy three of ten units at $100, subsequent bidders will get the remaining units at lower prices as descending offered prices are accepted.
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iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p18
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