Q3 Sealed-Bid Auctions w There are three risk-neutral bidders with val distribution on |0, 100). Consider a sealed-bid Laneously and independently submits a bid &, First, consider a standard first-price auction. and pays her bid. The losers pay nothing. Ask strategy of the form by(m) = 0*m for all i Hint: Review slides 27 3/ from the Auction You need to repeat all sleps making adjustment (a) Derive the probability of winning the obje