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An Antique Cabinet Is Being Sold by Means of an English

Question 20

Multiple Choice

An antique cabinet is being sold by means of an English auction.There are four bidders, Zelda, Clara, Anneli, and Diana.These bidders are unacquainted with each other and do not collude.Zelda values the cabinet at $800, Clara values it at $550, Anneli values it at $1,300, and Diana values it at $300.If the bidders bid in their rational self-interest, the cabinet will be sold to


A) Anneli for about $1,300.
B) Zelda for about $800.
C) either Anneli or Zelda for slightly more than $800.Which of them actually gets it is randomly determined.
D) Anneli for slightly more than $800.
E) None of the above.

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