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Management Studies

Prove that in a symmetric sealed-bid auction with independent private values in which all the buyers are risk-seeking, and have the same strictly convex, differentiable, and monotonically increasing utility function, the seller's expected revenue is lower in a sealed-bid first-price auction than in a sealed-bid second-price auction.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92086578

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