Difference between the two types of sealed bid auctions

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Question 1: Explain why the dominant strategy equilibrium in an English auction is also the Nash equilibrium.

Question 2: What is the difference between the optimizing strategies used in an English auction and a Dutch auction?

Question 3: What is the difference between the two types of sealed bid auctions?

Question 4: Robert is participating in a Dutch auction. If he values the item being auctioned at $5,500 and there are five bidders in total, what should Robert's optimal bidding strategy be?

Question 5: Isabella is participating in a first-price auction for a house. If there are five other bidders and her maximum willingness to pay for the house is $60,000, what is her optimal bidding strategy?

Reference no: EM133718597

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