Problem
In terms of winner's curse:
a. Why is the winner's curse unlikely for frequently purchased goods?
b. Why would the winner's curse be more likely as the number of bidders increases?
c. Why would we except there to be no winner's curse for goods desired for their own private value, unlike the case of purchases based on a good's market value to others?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.