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Now, that you understand the true value of an asset, let's talk about what happens in each of the 24 rounds of the game. Pay very close attention so that you can make as much money as possible.
First, each seller receives a three number range between 1 and 20. We will call this three number range the seller's Private Range. This Private Range represents the most likely values of their asset. Recall that the Private Range does not necessarily contain the true value, it contains the most likely values. Only the seller knows the Private Range; no other person in the study knows the Private Range the seller was given.
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