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1) (Lowest-Price-Auction) Consider the sealed-bid "lowest-priceauction", an auction where the highest bidder wins but he pays the lowest bidder's 1 bid. There are n > 2 bidders. The values for the object of the bidders are ordered by v1 > v2 > ... > vn > 0 and known to all bidders. If several bidders bid the highest bid, then the bidder with the "lowest" name gets the object. (E.g. if both bidders 3 and 6 have the highest bid, then bidder 3 will get the object because his name, "3", is lower than "6".) Show that for any bidder i, the bid of vi weakly dominates any lower bid. Show further that for any bidder i, the bid of vi does not weakly dominate any higher bid. Next, show that the action profile in which each player bids her valuation is not a Nash equilibrium. Finally, find a symmetric Nash equilibrium.
Assume that both magazines are owned by the same publishing company that maximizes the combined profits of the magazines. Will the company make the same choice as in the noncooperative game (i.e., owned by different publishing companies)?
The demand for money to cover unexpected expenditures and to meet emergencies is known as
Government spending is often too small to have the impact that governments usually want to see on the economy. However, something occurs in the economy after the initial government injection which makes the end result much larger than the initial ..
Compute the effective annual interest rate 10% nominal interest compounded semiannually, 10% nominal interest compounded quarterly, 10% nominal interest compounded weekely.
consider an economy in which taxes planned investments government spending on goods and serves and net exports are
anbsp what is meant by the concept of a standard of living?b what are the difficulties in measuring this within one
At the central furniture company, consumers who buy on credit pay an effective annual interest rate of 16.1 percent, based on monthly compounding. What is nominal annual interest rate that they pay?
A formal statement that defines how an organization expects and requires employees to resolve ethical questions is a When a publicly traded firm is suspected of unethical or illegal behavior, the will conduct an investigation
Suppose you are in charge of setting the price for commercial advertisements shown during Enemies, a top network television show. There is a 60 minute slot for the show. However, the running time for the show itself is only 30 minutes?
Imagine that your city is planning to build a waste recyclingplant in your neighborhood. What are the ethical and practicalconsiderations for making this decision How would your concern forthe environment affect your view on this action
The information below describes the real GDP per capita for the country of Bedrock for the period of 1975 to 1991.a. If a new business cycle began in 1975, how long was this cycle b. The peak occurred in which year The trough occurred in which year c..
Porter seeks accommodation for a religious practice unique to the Heavenly Masters. Porter's employer has never heard of this religion. In order to determine whether Porter's demand for accommodation is truly based on religion, the employer must d..
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