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Consider a standard first-price auction for a single object. There are three bidders (N = 3) with valuations independently drawn from the uniform distribution on
Consider a standard first-price auction for a single object. There are three bidders (N = 3) with valuations independently drawn from the uniform distribution on [200, 300]. Calculate the auctioneer's expected revenue in the efficient equilibrium of this auction. Type your answer.Consider a standard first-price auction for a single object. There are three bidders (N = 3) with valuations independently drawn from the uniform distribution on [200, 300]. Calculate the auctioneer's expected revenue in the efficient equilibrium of this auction. Type your
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