You are bidding in a sing

You are bidding in a sing

You are bidding in a single-good 1st – price sealed bid auction with 2participants. Your valuation for the good is 3/5. All you know about the other participant?svaluation ? (v) is that it is distributed uniformly over the interval [0, 1]. You were also tipped thatyour opponent bids according to the function?b(?v) = ?v2. What is your optimal bid?

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