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Economic 5. (15 pts) Suppose I: items are to be auctioned with private values. In a emotion strate. the top R: bidders win the auction

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Economic

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5. (15 pts) Suppose I: items are to be auctioned with private values. In a emotion strate. the top R: bidders win the auction all paying a price equal to the (k + 1)\" highest bid. Prove that. in the k-anotion the strategy where each players 'oids his valuation is a. dominant strategy and is a Nash equilibrium

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