You Are the Bidder in an Independent Private Values Auction

question 69

Essay

You are the bidder in an independent private values auction.Each bidder perceives that valuations are evenly distributed between $0 and $1,000.Your own valuation of the item is $900.Determine your optimal bidding strategy in a first-price,sealed-bid auction with:
a.Two bidders.
b.Three bidders.
c.20 bidders.

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Definitions:

Relational Aggression

A type of aggression in which harm is caused through manipulation or damage to relationships or social standing.

Social Misdeeds

Actions or behaviors by individuals that violate societal norms or rules.

Cyber-bullying

The use of electronic communication to bully a person, typically by sending messages of an intimidating or threatening nature.

ADHD

Attention-Deficit/Hyperactivity Disorder, a neurodevelopmental disorder characterized by significant problems with attention, hyperactivity, and impulsiveness that are not appropriate for a person's age.