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1) The table below indicates values different advertisers on clicks that are generated by viewers of sponsored search for a particular keyword. Each advertiser wants

1) The table below indicates values different advertisers on clicks that are generated by viewers of sponsored search for a particular keyword. Each advertiser wants only one slot. i) Characterize the (local envy free) equilibrium bids of a generalized second price auction for these slots. You can assume that bidders know each other's value per click. ii) Characterize the equilibrium behavior in a Generalized English Auction. Slot' Expected Advertiser Value per Clicks Click (100) b (80) 2 60 C (65 3 75 d (40) 4 .8 (25 5 .55 .7 45 .9

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