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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
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
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
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
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
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
YES
NO
Question 2 of 9
Select all...
First Price Sealed Bid Auction
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
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.
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
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
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.
YES
NO
Question 3 of 9
Select all...
Vickrey auction (second price sealed bid)
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
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
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
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
An public, open, ascending-price auction, highest bidder pays their bid and wins
YES
NO
Question 4 of 9
Select all...
Uniform Price-Auction
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
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.
Multiple auctions at same time over multiple rounds. Bidders switch across items as prices evolve
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 identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
YES
NO
Question 5 of 9
Select all...
Dutch Auction
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
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
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
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
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 6 of 9
Select all...
Simultaneous Multi-Round Action (SMR)
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
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
Bidder has one private bid. The highest bidder wins, pays the second-highest bid. Truth telling doms
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
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 7 of 9
Select all...
Combinatorial Auction
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
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
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
Each bidder submits one private bid without seeing others’ bids. Highest bidder wins, pays own bid.
Multi-unit extension second-price logic. Bidders bid for several units, pays opport. cost on others
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
YES
NO
Question 8 of 9
Select all...
Vickrey Multi-Unit Auction
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
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
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
An public, open, ascending-price auction, highest bidder pays their bid and wins
YES
NO
Question 9 of 9
Select all...
Package Auction
Multiple identical units. Winners pay same market-clearing price, highest lose bid or lowest win bid
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.
Bidders place bids on bundled items rather than only single items. Useful for complements, complex
An public, open, ascending-price auction, highest bidder pays their bid and wins
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
YES
NO
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