Question

You are a bidder in an independent private values auction, and you value the object at $ 4,000. Each bidder perceives that valuations are uniformly distributed between $ 1,500 and $ 9,000. Determine your optimal bidding strategy in a first-price, sealed-bid auction when the total number of bidders (including you) is:
a. 2.
b. 10.
c. 100.



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  • CreatedApril 18, 2014
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