Under your advice, A has decided to enter the market as a digital two-sided platform. You and your partners have also decided if you will be the rst to operate in the market or not. The next issue to solve is selling the software you and your partners own and use the revenues to build the digital platform. The software produces a revenue of 130, is proprietary which means only those with the license can use it, and it has unique capabilities with no substitutes in the market. It is copyrighted, so no one can duplicate it. You have information about how much 8 potential buyers value the software. You also consider it is sensible to assume the bidders are identically and independently distributed according to a uniform distribution, and that the valuations are private information. The information on the bidders' valuations is summarized in Table 1 below Table 1. Valuation of 8 bidders Bidder Valuation 1 00 1 4O 60 1 30 1 60 50 80 1 45 (DNO'JUI-h-OOM-i 3. You know the characteristics of the software make an auction a good way of selling the software, if the auction has the appropriate design. How would you explain to your partners that using an auction mechanism is a good option? In your explanation include the main characteristics of the auction design. (10 marks)