Question: We have three bidders (A, B and C) and three goods (x, y and z). The valuations are: vA(x) = 17 vB(x) = 13 vC(x)

We have three bidders (A, B and C) and three goods (x, y and z). The valuations are:

vA(x) = 17 vB(x) = 13 vC(x) = 5

vA(y) = 9 vB(y) = 15 vC(y) = 7

vA(z) = 1 vB(z) = 1 vC(z) = 21

vA(xy) = 33 vB(xy) = 25 vC(xz) = 1

vA(xz) = 15 vB(xz) = 11 vC(xy) = 19

All the valuations that are missing are assumed to be equal to 0 (so for instance we have vA(xyz) = 0, vi() = 0 for any bidder i = A, B, C, etc.).

Find the allocation and the price paid by each bidder with the VCG auction.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

On 1 January 20X0 Hill plc purchased 70% of the ordinary shares of Valley plc for £1.3 million. The fair value of the non-controlling interest at that date was £0.5 million. At the date...

Q:

Question 1 (25 points) We have three bidders (A, B and C) and three goods (x, y and z). The valuations are: = 21 = 17 VA(y) = 9 = 33 UA(xz) = 15 VB(a:) = 13 t'B(y) = 15 t'B(z) = 25 VB(xz) = 11 vc(x)...

Q:

3. We have three bidders (A, B and C) and three goods (1, y and 2). The valuations are: 2 VA(32) = 8 VA(y) = 4 VA() = 0 VA (cy) = 16 VA(22) = 7 UB(x) = 6 UB(y) = 7 UB(2) = 0 UB(cy) = 12 UB(22) = 5...

Q:

ML in a nutshell Optimization, and machine learning, are intimately connected. At a very coarse level, ML works as follows. First, you come up somehow with a very complicated model y = M(x, 0), which...

Q:

(dJm'iJ 1) * 7.5micrometer: ....... mm .3 7.5 x 103 O 7.5 x 10-3 O 7.5 x 106 O (3.19.6.5 1) * If there are y seconds in one year, a distance of one light year is equal to .4 y=3xl0T 9x109mO 9x10'2m O...

Q:

The distance between Makah and Medina is accurately 460 Km, the number of SF and error in . 15 (abei 1) * this number is SF 2, ERROR 10 O SF3, ERROR 1 O SF3, ERROR 10 O SF2, ERRORI O (abei 1) *...

Q:

Examine the pricing strategies in the gasoline market. Make sure to address the following topics: In the article, (Mixed) Strategy in Oligopoly Pricing: Evidence from Gasoline Price Cycles Before and...

Q:

16 Part A Two figure skaters, one weighing 675 N and the other 725 N, push off against each other on very smooth ice. If the heavier skater travels at 1.50 m/s, how fast will the lighter one travel?...

Q:

Briefly describe ASCII and Unicode and draw attention to any relationship between them. [3 marks] (b) Briefly explain what a Reader is in the context of reading characters from data. [3 marks] A...

Q:

Answer All the questions (a) The International Accounting Standards Board's framework for the presentation of financial statements prescribes for recognition of assets only when two conditions are...

Q:

help mi with my questions 21. There are three assets, A, B and C, where A is the market portfolio and C is the risk-free asset. The return on the market has a mean of 12% and a standard deviation of...

Q:

You need to write a paper about Market Competitiveness of Starbucks

Q:

By contract entered into in 1991, Spouse 1 and Spouse 2 (former spouse as of January 2, 2015 ) agreed that any property either of us now has or may hereafter acquire * * * in any way, either by...

Q:

The CEO of your exercise equipment company wants to quickly assess your market readiness. Which technology tool do you recommend they use ? Google Search Console Google Market Finder Google Input...

Q:

Sterling Products Corporation (SPC), a local furniture manufacturer is considering automating its frame assembly operation by leasing a completely automated work station. Currently there is only a...

Q:

For the data given in Problem 3.22, determine the relative density at each depth using Eq. (3.51). Assume moderately compressible sand and hence Q c = 1. Eq. (3.51) Problem 3.22 A cone penetration...

Q:

Two industrial plants represent balanced three-phase loads. The plants receive their power from a balanced three-phase source with a line voltage of 4.6 kV rms. Plant 1 is rated at 300 kVA, 0.8 pf...

Q:

Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2022, consists of products D, E, F, G, H, and I. Relevant per-unit...

Q:

On December 31, 2022, Hurly Co. performed environmental consulting services for Cascade Co. Cascade was short of cash, and Hurly Co. agreed to accept a $300,000 zero-interestbearing note due December...

Q:

1. Explain the differences between life insurance and term deposit. (2%) 2. Explain the following terms in life insurance: (6%) (a) annual premium (b) total premium paid (c) surrender value (d)...

Q:

4. It is the principle of equality (according to very specific criteria of equality) that is crucial.

Q:

7. As your starting point, take a discussion you have had with a person at your workplace. Answer the following questions: Answer the following questions: What did you want to achieve? How did you...

Q:

5. What does it mean when someone views it as important for their human dignity to maximize certain human values?