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You are one of five risk-neutral bidders participating in an independent private value auction. Each bidder perceives that all other bidders valuations for the items are evenly distributed between $50,000 and $80,000. For each of the following auction types, determine your optimal bidding strategy if you value the item at $75,000

a. First-price, sealed bid auction
b. Dutch auction
c. Second-price, sealed-bid auction
d. English auction

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M966222

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