Question
Find the optimal bidding function in a first-price auction with n bidders, if the distribution of bidders values is F(v) = v^2 , and v
Find the optimal bidding function in a first-price auction with n bidders, if the distribution of bidders values is F(v) = v^2 , and v is distributed in the interval [0, 1].
What happens to the optimal bidding function as n grows large? Intuitively interpret this result (i.e., explain why this should be so).
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
0132423502, 978-0132423502
