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Bidders values can be modeled as independent draws

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What bid will the bidder whose value is 3/4 will submit in the the unique symmetric Nash equilibrium of this game, suppose that 20 risk neutral bidders participate in a second-price sealed-bid auction. Assume that bidders' values can be modeled as independent draws from the same uniform distribution on the interval [0,1].

Reference no: EM132414668

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