In English auction, an item is auctioned. People increase bids in increments of $100, and the player giving the highest bid gets the item for that amount of money. a). Give reasons why the auctioneer would be considered a player of the game, or reasons w

a) The auctioneer can be considered a player of the game because they are responsible for facilitating the auction and setting the rules that will determine who wins the item being auctioned. However, the auctioneer is not bidding on the item themselves, so they are not participating in the bidding process as a buyer. b) The game is sequential, as each bidder has the opportunity to raise the bid after the previous bidder has made their offer. c) The game is not zero-sum, as the winning bidder gains something (the item) and the losing bidders do not lose anything except the opportunity to purchase the item. d) Any agreement on bidding prices between two bidders prior to entering the auction is not enforceable. The rules of the auction dictate that bids can only be made in increments of $100, and the auctioneer has the authority to determine whether a bid is valid. Any attempts to circumvent the established bidding process would likely result in disqualification. e) A real-world art auction may not have complete information as the value of an item can be subjective and dependent on factors that may not be widely known or easily quantifiable. Additionally, sometimes auction houses do not disclose the full history of an art piece, which can impact its value. However, auction houses typically provide as much information as possible to potential bidders to ensure a fair and transparent process.