Determine what will be winning bid

Reference no: EM132208369

Question: Suppose there is an item being sold at a second price, sealed bid auction. Use your intuition. If there are four bidders at this auction, and they have true values of $78, $72, $66, and $65, what will be winning bid be and how much is it? Why? (Hint: there are an infinite number of actions for each bidder, some are strictly dominated, and each bidder is rational)

Reference no: EM132208369

Questions Cloud

Describe rate error you would be concerned : Describe rate error you would be concerned about and how you would guard against committing the rater error. The response must be typed.

Identify the range of output exhibiting increasing returns : Identify the range of output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP).

Generate a series of random equations : Write a program in C++ that generates a series of random equations and prompts the user to answer each equation generated.

How did northern war goals in relation to slavery change : How did northern war goals in relation to slavery change as the war progressed? What impact did the war have on slavery, and conversely.

Determine what will be winning bid : Suppose there is an item being sold at a second price, sealed bid auction. Use your intuition. If there are four bidders at this auction.

Print all the ways possible in notepad at the end : Write a program with C++ in which Import notepad: 1 word in each line (number of words is not specified).

How does mitosis differ from meiosis : Utilizing knowledge from your learning and assigned readings, respond to the following questions: How does mitosis differ from meiosis

Calculate demand elasticity at purchase price : Calculate demand elasticity at purchase price 40 and purchase price 60. Comment on your findings. Find the marginal revenue curve and reflect it.

How does the video explain differences in skin color : Beginning in the period of European colonialism/exploration/conquest, how was skin color seen/used? How does the video explain differences in skin color

User Account

All Pages