03. rs 20 auction
- 1. Rs 20 auction
Rs 20 goes to the highest bidder
Bidding starts at Re 1
Bids can only be increased by Re 1
The 2nd highest bidder also must pay, but
gets nothing in return
No groups
© Shri Ram Murti Smarak International Business School, Lucknow
www.ibs.srms.ac.in
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- 2. Rs 20 auction -- learnings
Greed – the seed for irrational decisions
Recovery of past investment
Returns >= Investment
© Shri Ram Murti Smarak International Business School, Lucknow
www.ibs.srms.ac.in
2