13.4 Exercises 13.1 Second-Price Auctions: Show that in a second-price sealed-bid auction bid- ding your valuation weakly dominates bidding above your valuation.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter24: Enterprise Risk Management
Section: Chapter Questions
Problem 8MC
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13.4
Exercises
13.1
Second-Price Auctions: Show that in a second-price sealed-bid auction bid-
ding your valuation weakly dominates bidding above your valuation.
Transcribed Image Text:13.4 Exercises 13.1 Second-Price Auctions: Show that in a second-price sealed-bid auction bid- ding your valuation weakly dominates bidding above your valuation.
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