Question: Question 8 Why should bidders not bid below their true value in second - price auctions? Because even though it augments the chances of making

Question 8
Why should bidders not bid below their true value in second-price auctions?
Because even though it augments the chances of making money, it does not improve profits conditional on winning.
Because it improves profits conditional on winning, but it reduces the chances of making money.
All of the other statements are correct.
Because it does not improve profits conditional on winning, and it reduces the chances of making money.
Question 8 Why should bidders not bid below their true value

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