“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.
“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.
Thing is, starting with lowballing (high in a market’s case) and then getting into a price war is exactly how a market decides things. I get what you mean, but I also agree that the market is equivalent to open-bid.