The resulting price of an English auction will be _______________ the resulting price of a second-price sealed-bid auction.

Question

Quizplus · Accepted Answer

In both English auctions and second-price sealed-bid auctions, the winning bidder pays a price equal to the highest bid by the losers plus a bid increment or exactly the second-highest bid, respectively. This mechanism often leads to similar strategic bidding behavior, resulting in equivalent prices.

The Resulting Price of an English Auction Will Be _______________