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A third price auction is similar to a Vickrey auction except that the winner (the bidder with the highest bid) pays the third highest bid.

A third price auction is similar to a Vickrey auction except that the winner (the bidder with the highest bid) pays the third highest bid. Is it a dominant strategy in this auction to bid one's valuation?If yes, provide a sketch of the proof.If not, provide an example.

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