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For the First Price auction game discussed in class, determine whether the following strategy pair is a Bayesian Nash Equilibrium. Bidder 1: bid 40 when
For the First Price auction game discussed in class, determine whether the following strategy pair is a Bayesian Nash Equilibrium. Bidder 1: bid 40 when the valuation is 50; bid 70 when the valuation is 100 Bidder 2: bid 40 when the valuation is 50; bid 70 when the valuation is 100
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