Consider a second rice seale bid auction

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Question: Consider a second rice sealed-bid auction with an unknown number of bidders. You, as a CVOP one question at a time 0 or three other bidders (besides yourself) participating in the auction. All bidders have independent, private values for the good. Your value is v. What bid should you submit, and how does it depend on the number of other bidders in the auction?

Reference no: EM133328040

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