Describe a real auction or tender process

Reference no: EM132246749 , Length: word count:850

Question -

(A) What are the major forms of auction format for the sale of a single object? For buyers who know their valuations for the object, what are the optimal bidding strategies? (You may instead, if you wish, consider a situation in which the auctioneer is procuring (that is, seeking to buy; this is a tendering process) and the bidders are competing sellers.)

(B) Describe a real auction or tender process. Explain the rules, including the reserve price (if any), the number of bidders, and the likely ranges for bidders' valuations. If you were a participant, then what would you do?

Need 850 + words.

Reference no: EM132246749

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