Question: You are one of five risk neutral bidders participating in

You are one of five risk- neutral bidders participating in an independent private values auction. Each bidder perceives that all other bidders’ valuations for the item are evenly distributed between $ 10,000 and $ 30,000. For each of the following auction types, determine your optimal bidding strategy if you value the item at $ 22,000.
a. First- price, sealed- bid auction.
b. Dutch auction.
c. Second- price, sealed- bid auction.
d. English auction.

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  • CreatedApril 18, 2014
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