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Respond to the question : Sealed bid theorm?

01/12/2002 01:04 AM by Sungbin Cho; Re:Sealed Bid Theorem
What you ask seems how you can get symetric equilibrium budding function in the first-price sealed bud auction, where each individual's value of goods is drawn from uniform distribution. You can consult any textbook on game theory. Specifically, "The Analytics of Uncertainty and Information" by Hirshleifer and Riley may be helpful. (pp.386-390) And you can also look at the paper by Riley and Samuelson, "Optimal Auctions," American Economic Review 71 (June 1981)381-92, where the symmetric equilibrium bidding is derived. [Manage messages]

12/04/2001 02:02 PM by Talia Walter; Sealed bid theorm
How do you prove that b=((n-1)/n)*V [View full text and thread]