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Consider a two-bidder war of attrition in which the bidder with the highest bid wins the object but both bidders pay the losing bid. Bidders'

Consider a two-bidder war of attrition in which the bidder with the highest bid wins the object but both bidders pay the losing bid. Bidders' values distributed i.i.d. according to F . a. Use the revenue equivalence principle to derive a symmetric equilibrium bidding strategy in the war of attrition

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