Weak domination in second price sealed bid action

Reference no: EM131252875

Weak domination in second-price sealed-bid action:-

Show that for each type vi of each player i in a second-price sealed-bid auction with imperfect information about valuations the bid v_i weakly dominates all other bids. We conclude, in particular, that a second-price sealed-bid auction with imperfect information about valuations has a Nash equilibrium in which every type of every player bids her valuation. The game has also other equilibria, some of which you are asked to find in the next exercise.

Reference no: EM131252875

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