1. "Vickrey Auction" a.k.a. "winner pays, second price auction" - In this auction, players submit bids. The player with the highest bid receives the object and pays the second highest bid. What strategy weakly dominates all other strategies? Argue that no lower bid can lead to a higher payoff than the weakly dominant strategy. Argue that no higher bid can lead to a higher payoff than the weakly dominant strategy