Please answer this question with clear and detailed explanation, thank you. The question is related to game theory.

Question 2 [20%] The application of game theory in auction design is not new. The most popular auction website by far, cBay, finds auction theory relevant in its auction design. When a registered vendor placed an item for sale, each bidder will then place a "proxy bid" or successive bids which eBay keeps in memory. The rule is that when the auction ends the highest bidder wins at a price which is only one cent higher than the second highest bidder. For example, three bidders A, B and C placed their bids on an antiquarian book. Their respective bids are $80, $115, and $136. The current price of the item will then be at $115.01. If B raises her bid to $120, C will still win but at a price of $120.01. Now, if B raises her bid again to $140, she will win at a price of $136.01 if there is no higher bid than $140. Advice from eBay has it that you enter exactly what you consider as your true value of the item as your bid, and assume that the value of the item to different bidders is different and mutually independent. Required: Argue that bidding more than your valuation is weakly dominated by bidding your valuation