Look, Pat, First Rate got that contract fair and square.

Let's look at these cases a little bit more carefully and figure out what's going on.

So you don't want to bid more than what it's really worth to you.

But since we're working with money and we're working with dollars, we should just round to the nearest penny.

The price of admission.

That says that the rational strategy, the dominant strategy in second price auction, is to bid your true value and that makes it a truth revealing auction mechanism.

And just so that we get some of the other details that we see here, this bid right here, this is what someone has explicitly said that they are willing to pay for a share.

On the other hand, if you bid down here, and if c snuck in in between what your bid is and what the valuation is, then you've lost the auction, and you get a zero, but you should have won or it would have been worth your while to win because the price still would have been a bargain to you.

They pay 1 million.

It's why the purchase price is so high.

Price

Then auctions like eBay are another example of dynamic pricing.

Take my money,take my money.

Somebody bought it?

Ninety nine pence was the starting price and no reserve.

Later it came up on Ebay again!

You'd end up with a negative utility.

So, and maybe in particular the people who were going to buy this car at any given price point

Par value

Redemption

Present value

Present values

Future value

Dr. Price?

Wenneck, Price, Garner.

As expected, the price of imported goods rose.

So of course, what matters in a home?

They go to the highest bidder.

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

Low Price to Earnings ratio implies that it's cheaper.

Alright?

If you expect the future price to go up and the good or the product in question is something that you can store, well, depending on how much you expected to go up, you're probably more likely to buy now buy before the price goes up.

It's not about low cost.

I could actually price on specific customer segments or on features I know they need.

And so the first of these that I will focus on the first is the price of competing products.

For any given price, it's going to lower the quantity demanded.

See...notice I get my axes confused

Let's say a guy invents a better light bulb.

How could you have prices that kind of move?

It turns out we made this pretty easy.

And we see that the last trade here was for 2.58.

But there are two types of prices.

It is traded.

That sounds about right. It's within the right range at least.

You would be correct that Company B was cheaper.