Bidding box for home-played games. Use of bidding boxes has several advantages over oral bidding: it reduces noise in the room, prevents bidding being overheard at neighboring tables, allows easier review of the auction, and reduces the opportunity to pass unauthorized information to one's partner (intentionally or not) by the manner and intonation in which one makes one's bid. A bidding box is typically a plastic box with two slots, each containing a set of bidding cards. One slot contains 35 cards with symbols of bids (5 denominations—clubs (), diamonds (), hearts (), spades (), and notrump (NT)—in seven levels of bidding,
Auction theory than any other bidder (or equivalently a special bidding fee of $X – Δ). This bidder will still win the lot, but will pay more than would otherwise be the case. The winner's curse is a phenomenon which can occur in "common value" settings—when the actual values to the different bidders are unknown but correlated, and the bidders make bidding decisions based on estimated values. In such cases, the winner will tend to be the bidder with the highest estimate, but the results of the auction will show that the remaining bidders' estimates of the item's value are less than