If the personal values of buyers' are drawn from different distributions,then which of the following can be rightly inferred?

Question

Quizplus · Accepted Answer

If the personal values of buyers are drawn from different distributions, then some buyers may have a much higher value for the item being auctioned than others. In an English auction, this could result in fewer people actively participating in the auction, as those with lower personal values may drop out early. In a sealed-bid auction, however, all buyers have a chance to win the item, even if they have a lower personal value. Therefore, the expected revenue of a sealed-bid auction is likely to be better than that of an English auction in this scenario.

If the Personal Values of Buyers' Are Drawn from Different