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Which of the following strategies should bidders use when they are in a common values auction environment? (Hint: only one is correct.) A. Bid higher
Which of the following strategies should bidders use when they are in a "common values" auction environment? (Hint: only one is correct.) A. Bid higher than their estimate of the item's value. B. Bid exactly the amount of their estimate of the item's value. C. Never bid as high as their estimate of the item's value. Briefy explain
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