As the number of bidders in a common value auction increases, the highest estimate will ______________ the true upper limit.

Name: As the number of bidders in a common value auction increases, the highest estimate will ______________ the true upper limit.
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As the number of bidders increases, the range of estimates will become narrower and more accurate, which leads to the estimates converging to the true upper limit. This is known as the "wisdom of the crowd" effect.

As the Number of Bidders in a Common Value Auction