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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.
For the data analysis project, you will address some questions that interest you with the statistical methodology we are learning in class. You choose the questions; you decide h
Hi There, I have a question regarding R, and I am wondering if anyone can help me. Here is a code that I would like to understand: squareFunc g f(x)^2 } return(g) } sin
Features of index numbers
description
An approximation to the error of a Riemannian sum: where V g (a; b) is the total variation of g on [a, b] de ned by the sup over all partitions on [a, b], including (a; b
You are currently working with a supplier who is producing a shaft whose diameter specification is 6.00 ± .003 inches. Currently, the process is yielding shafts wit
In New Jersey, banks have been charged with withdrawing from counties having a high percentage of minorities. To substantiate this charge, data is presented in the table below conc
mle
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Coefficient of Variation The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of vari
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