AS A FRACTION a don't know any bidder's private values, what is the expected revenue for the ce auction? A numerical answer as well as the formula you used to arrive at in (N-1 Epechd kevenue : Joe is one of the 4 bidders and values the object at $16. How much should Joe auction? A brief justification is required. Answer:
AS A FRACTION a don't know any bidder's private values, what is the expected revenue for the ce auction? A numerical answer as well as the formula you used to arrive at in (N-1 Epechd kevenue : Joe is one of the 4 bidders and values the object at $16. How much should Joe auction? A brief justification is required. Answer:
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
4
![Problems/Short Answer
1. Suppose there are 4 risk-neutral bidders who have private values for an object that is being
sold in an auction. The private values are independent draws from a uniform distribution on the
interval [0, 30]. YOU MAY LEAVE YOUR ANSWER AS A FRACTION
i) Assuming you don't know any bidder's private values, what is the expected revenue for the
seller in a 1"-price auction? A numerical answer as well as the formula you used to arrive at it
are both required.
N-1
Espechd Rerenue : )
Answer:
ii) Suppose that Joe is one of the 4 bidders and values the object at $16. How much should Joe
bid in a 1" price auction? A brief justification is required.
Numerical Answer:
iii) Suppose the seller has learned that the four bidders have values of 16, 14, 10, and 5. Will a
risk-neutral seller prefer an ascending (English) auction or a descending (Dutch) auction? A
brief explanation is required for credit.
Numenical Tugfication
Numerical Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff95edb07-fce6-4fe2-9528-1ac1bc343004%2Fbd0ffe87-b7ac-4247-af70-198fa98d5d02%2F1l9b2y_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problems/Short Answer
1. Suppose there are 4 risk-neutral bidders who have private values for an object that is being
sold in an auction. The private values are independent draws from a uniform distribution on the
interval [0, 30]. YOU MAY LEAVE YOUR ANSWER AS A FRACTION
i) Assuming you don't know any bidder's private values, what is the expected revenue for the
seller in a 1"-price auction? A numerical answer as well as the formula you used to arrive at it
are both required.
N-1
Espechd Rerenue : )
Answer:
ii) Suppose that Joe is one of the 4 bidders and values the object at $16. How much should Joe
bid in a 1" price auction? A brief justification is required.
Numerical Answer:
iii) Suppose the seller has learned that the four bidders have values of 16, 14, 10, and 5. Will a
risk-neutral seller prefer an ascending (English) auction or a descending (Dutch) auction? A
brief explanation is required for credit.
Numenical Tugfication
Numerical Answer:
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