Is there an equilibrium in an open bid ascending auction

Reference no: EM131332775

Suppose that V = [0, v‾] is a bounded interval. Show that in a symmetric sealedbid second-price auction with independent private values the strategy vector under which buyer 1 bids v‾ and all the other buyers bid 0 is an (asymmetric) equilibrium.

Is it also an equilibrium in a sealed-bid first-price auction? Justify your answer.

Is there an equilibrium in an open-bid ascending auction that is analogous to this equilibrium?

Reference no: EM131332775

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