This factor contributes to the winner's curse
a. your estimate of the value of the object was not the most optimistic
b. your bid was not the highest
c. there were many other bidders that you beat out
d. you did not shade your bid enough
c
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When OPEC raised the price of oil in 2000 (gasoline prices were $2 per gallon), it contributed to
a. demand-pull inflation b. cost-push inflation c. demand-push inflation d. cost-pull inflation e. cost-push deflation
The marginal revenue product of labor is equal to
A. The change in total output divided by the change in the quantity of labor. B. The marginal physical product multiplied by the price. C. The change in the quantity of labor divided by the change in total revenue. D. The percentage change in total revenue divided by the percentage change in the quantity of labor.
The gold standard had two main drawbacks: (1) ______________ and (2) ______________.
Fill in the blank(s) with the appropriate word(s).
Assuming the effect of a specific outcome being tested is zero is known as
A. regression discontinuity. B. a zero-sum game. C. a statistical anomaly. D. the null hypothesis.