In a/an ____,sellers are only told of their relative rank and thus are not aware of their competitors' prices.

Question

Quizplus · Accepted Answer

In a rank reverse auction, sellers are only informed of their ranking and not of their competitors' prices. This allows for a greater competition among sellers since they have to bid based on their estimation of their competitors' prices rather than being able to adjust their bids based on their understanding of the current price levels.

In A/an ____,Sellers Are Only Told of Their Relative Rank