What have the two laureates contributed to auction theory?
CLEAN : Expert explains the 2020 Nobel Economics Prize

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Business
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11th - 12th Grade
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
They have focused solely on online auctions.
They have eliminated the need for auctions.
They have improved our understanding and application of auction theory.
They have created a new type of auction.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to provide bidders with information during an auction?
To reduce the number of participants.
To confuse the bidders.
To ensure transparency and better decision-making.
To increase the auction duration.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a complex problem mentioned in the context of auction theory?
Selling a house.
Auctioning art pieces.
Selling radio spectrum.
Bidding for a car.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common application of auction theory on the internet?
Internet auctions.
Social media advertising.
Streaming services.
Online shopping.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What potential does auction theory have for future applications?
It is limited to current applications.
It is only useful for small-scale auctions.
It can be applied to more complex scenarios.
It will become obsolete.
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