a. First-price, sealed-bid auction.
b. Dutch auction.
c. Second-price, sealed-bid auction.
d. English auction.
Tuesday 24 June 2014
Independent private values auction
You are one of five risk-neutral bidders participating in an independent
private values auction. Each bidder perceives that all other bidders’
valuations for the item are evenly distributed between $50,000 and
$80,000. For each of the following auction types, determine your optimal
bidding strategy if you value the item at $75,000.
a. First-price, sealed-bid auction.
b. Dutch auction.
c. Second-price, sealed-bid auction.
d. English auction.
a. First-price, sealed-bid auction.
b. Dutch auction.
c. Second-price, sealed-bid auction.
d. English auction.
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