Chapter 6: ANNUAL WORTH ANALYSIS - Al Akhawayn University

Expected Revenue Here we calculate the expected revenue under the e cient equilibrium bidding strategies for the rst- and second-price auction formats. In a rst-price auction with F() uniform on [0,100], the symmetric equilibrium bidding strategy has each bidder bid (n 1)=n times their value. Rod Garratt ECON 177: Auction Theory With Experiments ................
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