Regardless of whether an auction's purpose is to sell a product or buy one, providing more information about the value of the auctioned item can benefit the auction's managers because bidders will have more confidence in their valuations.

Question

Quizplus · Accepted Answer

Providing more information about the value of the auctioned item can help bidders make more informed decisions, which can lead to increased confidence in the auction's managers and potentially higher bids.

Regardless of Whether an Auction's Purpose Is to Sell a Product