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1. Second-Price Auctions: Show that in a second-price sealed-bid auction bidding your valuation weakly dominates bidding above your valuation.
2. Complete Information: Consider a set of N players participating in a sealedbid second-price auction, but assume that there is complete information so that each player knows the valuation of every other player.
a. Is it still true that each player bidding his valuation is a weakly dominant strategy?
b. Are there other Nash equilibria of this game?
What is the accumulated value at t = 30 of a 30 year ordinary annuity that has the first of its annual payments equal to $1000 and subsequent payments increasing by 2% through the 10th payment and equal to $1500 for all the remaining payments? Use..
1. suppose that the u.s. corn market is characterized by the following demand and supply equationsqd 64- 5pqs 3pwhere
where time is measured in months and 0
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Construct a diagram that shows the payoffs to the two firms in strategic (normal) form. What is the Nash equilibrium in this game?
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