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Auction Quiz
Auction matching
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Last updated: April 12, 2026
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| First submitted | April 12, 2026 |
| Times taken | 0 | Report this quiz | Report |
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Question 1 of 9
Select all...
English Auction
An public, open, ascending-price auction, highest bidder pays their bid and wins
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
An open, descending-price auction where the price starts high and falls until someone accepts it.
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
YES
NO
Question 2 of 9
Select all...
First Price Sealed Bid Auction
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
An public, open, ascending-price auction, highest bidder pays their bid and wins
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
An open, descending-price auction where the price starts high and falls until someone accepts it.
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
YES
NO
Question 3 of 9
Select all...
Vickrey auction (second price sealed bid)
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
An open, descending-price auction where the price starts high and falls until someone accepts it.
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
An public, open, ascending-price auction, highest bidder pays their bid and wins
YES
NO
Question 4 of 9
Select all...
Uniform Price-Auction
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
An public, open, ascending-price auction, highest bidder pays their bid and wins
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
An open, descending-price auction where the price starts high and falls until someone accepts it.
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
YES
NO
Question 5 of 9
Select all...
Dutch Auction
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
An public, open, ascending-price auction, highest bidder pays their bid and wins
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
An open, descending-price auction where the price starts high and falls until someone accepts it.
YES
NO
Question 6 of 9
Select all...
Simultaneous Multi-Round Action (SMR)
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
An open, descending-price auction where the price starts high and falls until someone accepts it.
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
An public, open, ascending-price auction, highest bidder pays their bid and wins
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
YES
NO
Question 7 of 9
Select all...
Combinatorial Auction
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
An open, descending-price auction where the price starts high and falls until someone accepts it.
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
An public, open, ascending-price auction, highest bidder pays their bid and wins
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
YES
NO
Question 8 of 9
Select all...
Vickrey Multi-Unit Auction
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
An open, descending-price auction where the price starts high and falls until someone accepts it.
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
An public, open, ascending-price auction, highest bidder pays their bid and wins
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
YES
NO
Question 9 of 9
Select all...
Package Auction
An public, open, ascending-price auction, highest bidder pays their bid and wins
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
An open, descending-price auction where the price starts high and falls until someone accepts it.
Combinatorial auction where bidders bid on packages as single bundles. Joint values > sum separately
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
YES
NO
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