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(a) Suppose that the auction is a standard sealed-bid, second-price auction. If student 3 has value v3, what should she bid? What (in equilibrium) is
(a) Suppose that the auction is a standard sealed-bid, second-price auction. If student 3 has value v3, what should she bid? What (in equilibrium) is her probability of winning the auction? And what (in equilibrium) is her expected payment if she wins
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Economics
Authors: Paul A. Samuelson, William Nordhaus
19th edition
978-0073511290, 73511293, 978-0073344232, 73344230, 978-007351129
