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Business, 20.11.2019 01:31 bknycfl3951

Prove that, in a vickrey (second-price sealed-bid) auction, for any false bid bi by any single bidder (that is, if vi is the bidder's private value for the item, then bi≠vi), there exists a vector b−i of bids by all other bidders such that the false bid gives strictly worse utility than bidding the true valuation, that is, ui(bi, b−i)

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Prove that, in a vickrey (second-price sealed-bid) auction, for any false bid bi by any single bidde...
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