Question
Problem 3: Explain the following a)Why it is unwise to bid more than your valuation of the good in a sealed bid second-price auction. b)In
Problem 3:
Explain the following
a)Why it is unwise to bid more than your valuation of the good in a sealed bid second-price auction.
b)In the first price sealed bid auction, a player gets a positive payoff by doing bid shading. Explain the tradeoff between biding lower than the value of the object and biding very close to value of the object.
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Essentials Of Business Law
Authors: Jeffrey F Beatty, Susan S Samuelson
3rd Edition
0324537123, 9780324537123
