Find the expected price paid by a bidder with valuation v in the equilibrium of the example

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Find the expected price paid by a bidder with valuation v in the equilibrium of the example of a first-price auction studied in class, with two bidders each of whose valuations are uniformly distributed on [0, 1]. Verify that this expected price is the same as it is in the equilibrium of the second-price auction, as the revenue equivalence theorem implies

Posted Date: Jun 11, 2024 08:02 PM

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Find the expected price paid by a bidder with valuation v in the equilibrium of the example

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