Solo 66 At the start of the game, the dealer shuffles the cards and offers them to be cut, he then deals six cards to each player. The remaining two cards are placed face-down in the middle of the table as the talon. The soloist is determined through a bidding process or auction. The player who bids the highest suit as trumps wins the auction. The suits rank, from highest to lowest, in the order: Clubs , Spades , Hearts and Diamonds . In the auction the player to the left of the dealer (forehand) is the first to bid or pass.
Common value auction The expected auctioneer's revenue is: Note that here, the revenue equivalence principle does NOT hold—the auctioneer's revenue is lower in a first-price auction than in a second-price auction (revenue-equivalence holds only when the values are independent). Common-value auctions are comparable to Bertrand competition. Here, the firms are the bidders and the consumer is the auctioneer. Firms "bid" prices up to but not exceeding the true value of the item. Competition among firms should drive out profit. The number of firms will influence the success or otherwise of the auction process in driving price towards true value. If the number of