Suppose you were the high bidder (at a bid of $20) for the $100 certificate auctioned off during the first lecture. After winning the certificate you declare you want the thumbtack and determine that your PISP for the certificate is $54.

At the next class Professor shakes the thumbtack in the jar and observes the result. He offers to truthfully tell you how the thumbtack has landed before you make your call. What is your PIBP for this information?

a) $20

b) $54

c) $46

d) You need more information to answer this question.