Suppose after submitting your sealed bid in a Vickrey auction you find out that you have lost

Question:

Suppose after submitting your sealed bid in a Vickrey auction you find out that you have lost the auction (you were not the highest bidder); however, you have the opportunity to revise your bid. Would you go ahead and change your bid? Why or why not?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: