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In a Dutch private value auction with five rational participants: The bidder with the lowest private valuation will always lose. Each participant should rationally bid
In a Dutch private value auction with five rational participants: The bidder with the lowest private valuation will always lose. Each participant should rationally bid its own private value. The auction generates the same revenue as a first-price auction
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Economics
Authors: John Sloman, Alison Wride
7th edition
978-027372130, 273721305, 978-0273721307
