Which of the following is a similarity between a second-price auction and an English auction?
A) Bids are placed privately.
B) Bids are placed publicly.
C) Bidders place their bids simultaneously.
D) The winner pays an amount equal to the second-highest bid.

Question

Quizplus · Accepted Answer

Both second-price and English auctions involve public bidding, where bidders know the current highest bid. In both types of auctions, the winner pays an amount that is equal to the second-highest bid.

Which of the Following Is a Similarity Between a Second-Price