There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item

There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item

There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item. Compare and contrast: a) the English and Dutch auctions; and, b) the sealed bid first price auction and the Vickery Auction.

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