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You are about to participate in a private value auction. There will be a total of 30 rational participants in the auction. You have been
You are about to participate in a private value auction. There will be a total of 30 rational participants in the auction. You have been informed by a higher being that, of the 30 participants, you have the second highest private valuation. This implies that one of the other 29 participants has a higher private value. In which type of auction you are the least likely to win the auction? In a Dutch auction
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