Consider three bidders who have private values that are independently and uniformly distributed between 0 and 100.

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Consider three bidders who have private values that are independently and uniformly distributed between 0 and 100. Suppose that these values happen to be v1=12, v2=60, and v3=34. Then the equilibrium price in the second-price auction is

(A) 12;

(B) 60;

(D) 40.

Related Book For answer-question

Microeconomics and Behavior

ISBN: 978-0078021695

9th edition

Authors: Robert Frank

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Posted Date: Nov 29, 2022 05:40 AM

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Consider three bidders who have private values that are independently and uniformly distributed between 0 and 100.

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Microeconomics and Behavior

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