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Level 18
· 👑 WORLD SHOWDOWN
· ◆◆◆◆ · ~12 min
The Auction Showdown
The Auction Showdown
"Eight questions on auctions — formats, shading, the winner's curse, revenue equivalence and the failures that matter."
the four formats and their equivalencesshading in first-price auctionscommon values and the winner's curserevenue equivalence and its assumptionscollusion, exposure and entry
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.