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Consider an all-pay, sealed-bid auction where the item goes to the highest bidder and all of the buyers pay what they bid. Assume that buyer

Consider an all-pay, sealed-bid auction where the item goes to the highest bidder and all of the buyers pay what they bid. Assume that buyer valuations follow a uniform(0,1) distribution. Use the revenue equivalence theorem to find the symmetric equilibrium bidding strategy b(v).

Submit an image file showing the bidding function b(v) and your work in deriving it

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