Which auctioned good is more likely to have different private values across potential bidders?
A) a truckload of sand
B) a Monet painting
C) a brand new car
D) a gold bar

Question

Quizplus · Accepted Answer

A Monet painting is a unique and subjective item, which means that each bidder's private value may differ based on their personal preferences and interpretation of the artwork. In contrast, the other items listed (a truckload of sand, a brand new car, and a gold bar) are more standardized and have more objective value, making it less likely that potential bidders will have drastically different private values.

Which Auctioned Good Is More Likely to Have Different Private