In General, with a First-Price Sealed-Bid Auction with Private Values

question 3

Multiple Choice

In general, with a first-price sealed-bid auction with private values, the Nash equilibrium bids will:

• A)increase as the number of bidders goes up.
• B)decrease as the number of bidders goes up.
• C)not be affected by the number of bidders in the auction.
• D)decrease at a rate of 1/N where N is the number of bidders in the auction.

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