(Answered) 1 find the optimal reserve price for each distribution of

Statistics

1. Find the optimal reserve price for each distribution of the previous exercise.

2. Now suppose the two bidders of exercise (3.5) collude to bid together and that the auctioneer knows this. Find the new optimal reserve prices for each of the distributions above. If the numbers are different from those calculated in (a), (b) and (c) above, explain why this does not contradict the fact that the optimal reserve price is independent of the number of bidders.

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