Definition of 'bewildering'. bewildering (bÉªwÉªldÉrÉªÅ ) A bewildering thing or situation is very confusing and difficult to understand or to make a decision about. A glance along his bookshelves reveals a bewildering array of interests.
Sealed-Bid Auction. What is a 'Sealed-Bid Auction'. A sealed-bid auction is a type of auction process in which all bidders simultaneously submit sealed bids to the auctioneer, so that no bidder knows how much the other auction participants have bid. The highest bidder is usually declared the winner of the bidding process.
THE THEORY OF FIRST-PRICE, SEALED-BID AUCTIONS. 1. Within the class of first-price, sealed-bid auctions, there are a number of. possible variations in environment, information, and rules: (1) The number of potential bidders is either known, or unknown with a. distribution that is common knowledge.