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on 04-Aug-2015 (Tue)

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Flashcard 150902151

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is [...].
Answer
the reservation price of the bidder whose bid wins the last units offered (it is about auction where many equally valuable units are auctioned)


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

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