Bidder in a sealed-bid auction

Reference no: EM13686679

Presume you are a bidder in a sealed-bid auction. There are too 5 other bidders in the auction. You believe that each of the other bidders has a value that is equally probable to be anything between 0 and 100. Each one of them has the same belief about you as well. How much exactly must you bid?

Reference no: EM13686679

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