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In a second price auction for a painting that you value at $80, you estimate the other bidders value the painting at between $20 and
In a second price auction for a painting that you value at $80, you estimate the other bidders value the painting at between $20 and $60. Your optimal bid is... and why?
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Basic Economics
Authors: Frank V. Mastrianna
16th edition
1111826641, 978-0357706664, 978-1111826642
