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2 bidders have identical valuations of an object for sale. The value of the object is either 0; 50 or 100, with equal probabilities. The object is allocated to one of the bidders in a second price (Vickrey) auction: the highest bidder gets the object and pays the second highest bid.
In case of a tie the object goes to bidder 1. Bidder 1 gets the signal 1 where T1(0) = l; T1 (50) = m and T1(100) = h. Bidder 2 gets the signal T2 where T2 (0) = L and T2(50) = T2(100) = H.
(i) Find a Nash equilibrium of this auction.
(ii) What is the seller's revenue? Could the seller get a higher revenue if bidder 2 had better information? Explain.
According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401, whereas women spend a mean of $1,527. Suppose that the study was based on a sample o
want to know fees
A. Compute descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are most volatile?
2 bidders have identical valuations of an object for sale. The value of the object is either 0; 50 or 100, with equal probabilities. The object is allocated to one of the bidders i
The file Midterm Data.xls has a tab labeled "Income Data 2009". This data is collected income data from a sample of 400 people in 2009. Use a hypothesis test to see whether the av
For a distribution of scores with = 82 and standard deviation = 2.5, find the following: (Don't forget to sketch the normal curve to help you visualize what you are trying to fi
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There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on
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what is the independent variable in how energetic do people feel after drinking different types of soft drints?
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