Question
Consider a first-price sealed-bid auction as the one analyzed in class.Suppose bidders' valuations are v 1 =10 andv 2 =10. Suppose bidder 2submits a bid
Consider a first-price sealed-bid auction as the one analyzed in class.Suppose bidders' valuations are v1=10 andv2=10. Suppose bidder 2submits a bid b2=10.Then, in a Nash equilibrium in pure strategies bidder 1 must be submitting a bid equal to________________.In this Nash equilibrium,bidder 1's payoff is equal to_______________(enter numerical values only,for example: 4)
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Financial Accounting Theory
Authors: William R Scott
5th Edition
0132072866, 978-0132072861
