Your company is bidding for a broadband spectrum license. You have been asked to submit an optimal bidding strategy. You expect that bidders will have in de pen dent private values for the licenses because each bidder presently has a different structure in place. You believe the valuations for these licenses will be between $200 million and $700 million. Your own valuation is $650 million. There is some uncertainty about the auction design that will be used, so you must suggest an optimal bidding strategy for the following auction designs:
a. Second- price, sealed- bid auction.
b. English auction.
c. Dutch auction.
Please describe your strategy. Is it a dominant strategy?