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Suppose there are n buyers participating in an auction, where the private values V₁, V₂,...,V_n are independent and for each i ∈ {1, 2,...,n}, vi is uniformly distributed over [0, vi]. Suppose further that v₁ ₂ _n. Answer the following questions

(a) Which selling mechanism maximizes the seller's expected revenue?

(b) What is the seller's expected revenue under this mechanism?

In the last two items, it suffices to write down the appropriate formula, with no need to solve it explicitly.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92086497

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