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4. Second Price Auction (Does not count. Please look for a proof online and emulate the style) Consider an auction with n bidders. Each bidder

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4. Second Price Auction (Does not count. Please look for a proof online and emulate the style) Consider an auction with n bidders. Each bidder 's valuation v.- is independently drawn from the same distribution F (v) with support [2. 5] . Furthermore, 0.- is bid- der i's private information. Suppose the auction is a second-price auction. This means that the winner pays the second highest bid. Let b;- denote the bid of bidder 1'. Prove that submitting bid bf : v.- is bidder i's dominant strategy

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