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You have decided to hold a second-price auction with no reserve to sell a painting. There are currently 3 bidders who would participate in the
You have decided to hold a second-price auction with no reserve to sell a painting. There are currently 3 bidders who would participate in the auction. You can also hire a marketing firm, who can bring up to 20 additional bidders to the auction at a cost of $2 per bidder
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
8th edition
9780077802615, 73523224, 77802616, 978-0073523224
