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What is jasmine optimal bidding strategy

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Reference no: EM133152646

Consider an antique auction where bidders have independent private values. There are 10 bidders, each of whom perceives that valuations are uniformly distributed between $25 and $100. One of the bidders is Jasmine, who knows her own valuation is $50. What is Jasmine's optimal bidding strategy in an English auction?

  • Keep bidding until the bid exceeds $50.
  • Keep bidding until the bid exceeds $33.
  • Keep bidding until the bid exceeds $25.
  • Keep bidding until the bid exceeds $100.

Reference no: EM133152646

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