MANAGERIAL/ECON+BUS/STR CONNECT ACCESS
9th Edition
ISBN: 2810022149537
Author: Baye
Publisher: MCG
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Question
Chapter 12, Problem 7CACQ
a.
To determine
To find: The first price, sealed bid auction.
b.
To determine
To find: The optimal bidding strategy for auction.
c.
To determine
To find: The optimal bidding strategy for second price, sealed bid auction.
d.
To determine
To find: The optimal bidding strategy for English auction.
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You are a bidder in an independent private auction, and you value the object at $2000. Each bidder assumes that the valuations are uniformly distributed between $1000 and $5000. Determine your optimal bidding strategy in a first-price sealed bid auction when the total number of bidders are: 2, 10, and 100.
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2.
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4
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1,500
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