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The players will compete in a first-price sealed-bid auction: each submits a bid, and the highest bidder wins the object and pays his own bid.
The players will compete in a first-price sealed-bid auction: each submits a bid, and the highest bidder wins the object and pays his own bid. The lowest bidder pays nothing. In the event of a tie, bidder 1 pays his bid and wins the object
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
