2. An object is to be allocated among in agents, where ny 3. For each agent...

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2. An object is to be allocated among in agents, where ny 3. For each agent i = N = {1, 2,...,n}, the value of the object is 2; € [0,00), where 2₁ > 2₂ > ... > 2.1 > 2m. Each agent iEN makes a bid xi € [0,00). The highest bidder wins the object and pays his/her bid. In case the set H of highest bidders has more than one agent, the agent with the lowest index in H₂ c.e., Mint, wins the object. The losers pay nothing. (2) Formulate the above scenario as a strategic form game g = (N₂X, u). Nash (6) Show that, for each pe [2₂, 2₁], there is a equilibrium REX with R₁ = p. (c) Find all Nash equilibria of g. 2. An object is to be allocated among in agents, where ny 3. For each agent i = N = {1, 2,...,n}, the value of the object is 2; € [0,00), where 2₁ > 2₂ > ... > 2.1 > 2m. Each agent iEN makes a bid xi € [0,00). The highest bidder wins the object and pays his/her bid. In case the set H of highest bidders has more than one agent, the agent with the lowest index in H₂ c.e., Mint, wins the object. The losers pay nothing. (2) Formulate the above scenario as a strategic form game g = (N₂X, u). Nash (6) Show that, for each pe [2₂, 2₁], there is a equilibrium REX with R₁ = p. (c) Find all Nash equilibria of g.

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bAN Let P be the i is the only She the price of the object if agent who bi... View the full answer