Closed-bid Auctions
The problem with closed bid auctions is that they are frequently won by people making a technical mistake.
Quote Author: Charlie Munger, Nationality: American, Sex: Male
Profession(s) | Businessman | Investor | Philanthropist |
Born: January 1, 1924
Charles Thomas Munger is an American investor, businessman and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation. (Source + full bio: Wikipedia org)
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