Business, 04.12.2019 06:31 HernanJe6

You are a bidder in an independent private values auction, and you value the object at $4,000. each bidder perceives that valuations are uniformly distributed between $1,000 and $7,000

determine your optimal bidding strategy in a first-price, sealed-bid auction when the total number of bidders (including you) is:

a. 2 bidders.

b. 10 bidders.

c. 100 bidders.

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You are a bidder in an independent private values auction, and you value the object at $4,000. each...

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