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Suppose that there are n buyers participating in an auction, where the private values V1, V2,...,Vn are independent and identically distributed, with the cumulative distribution function Fi(vi) = (vi)2 for v ∈ [0, 1].

Which auction maximizes the seller's expected revenue? What is the seller's expected revenue in that auction?

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M92086513

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