Quote:
Originally Posted by west-town-brad
wouldn't selling to an adjacent property owner demand a higher price tag, not lower? I've always heard that continuous property control has a higher value, not less.
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It's important to keep in mind that any sealed-bid process is going to have some randomness and strategic behavior (this wasn't a strategy-proof sealed-bid second-price auction, after all), so we cannot necessarily infer bidders' private values from their bids.