Asked by Camila Flores on Sep 24, 2024
Verified
The following is not associated with bid-rigging
A) bid-riggers bidding their true value
B) "knockout" auctions
C) bid rotations
D) amnesty to the first conspirator willing to testify against fellow conspirators
Bid-Rigging
Bid-rigging is an illegal agreement between parties to manipulate the outcome of a bidding process to their advantage, often at the expense of others.
Knockout Auctions
Auctions where bidders are eliminated progressively as the bid value increases until only the highest bidder remains.
Amnesty
A governmental act of pardoning a group or class of individuals from legal penalties, typically for political offenses, as part of a reconciliation process.
- Discern the contribution of collusion practices like bid-rigging to the consequences of auction processes.
- Understand the legal and ethical considerations in auction designs and bidder strategies.
Verified Answer
OA
Onome Agbongiague3 days ago
Final Answer :
A
Explanation :
Bid-rigging typically involves collusion among participants to manipulate the bidding process, not bidding their true value.
Learning Objectives
- Discern the contribution of collusion practices like bid-rigging to the consequences of auction processes.
- Understand the legal and ethical considerations in auction designs and bidder strategies.