These are word's examples related to auctioneer. Click on any word to go to its word's detail page. Or, 更多关于auctioneer的信息
Clients might not want their agents to reveal their private valuations to an external auctioneer as that information can be exploited.
The auctioneer could thus ask for a higher price than the second highest bid (just below the highest bid) from the highest bidder.
In such an economy, no trades take place until the auctioneer derives an equilibrium price.
However, he considers an example of how an auctioneer creates a "temporary formula" by repeating a phrase (p. 62).
In this economy, nominal wage and price decisions are taken not by an auctioneer but by economic agents.
This result holds even when the market is regulated by the supreme hand of the auctioneer.
There is no need for a central auctioneer.
Thus, the auctioneer can only determine the order of bids and allocate the second highest bid to the winner.
Only the auctioneer and the bidder know the highest bid.
He acquired wealth not only as a distiller, but also as an auctioneer of army surplus items.
In particular, the auctioneer now need not be accessible to (electronic) buyers, and so is not subject to interference from them.
The auctioneer is selected at random from the bidders and it is given a key to access all sealed bids.
In so doing, the auctioneer reaps a higher benefit than it should without the bidders knowing.
Rational decision makers would anticipate the winner's curse but experiments dealing with this phenomenon show that humans easily step into the pitfall set up by the auctioneer.
Fish loads are presented on a conveyer belt and, while the auctioneer calls out details of the lots, the decreasing sequence is displayed on a large electronic scoreboard overhead.
