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Consider the following auction game of complete information (all bidders know the value of other bidders). There are three bidders for single object. Each bidder i ...

Question

Consider the following auction game of complete information (all bidders know the value of other bidders). There are three bidders for single object. Each bidder i has a value Ui for the object. Values are U1 10,U2 5, U3 Each bidder simultaneously and independently submits bid b; â‚¬ {0,1,2, 1} (bids have to be integers) for the object_Suppose that the winner of the auction has to pay its own bid. For each bidder; identify all weakly dominated strategies.

Consider the following auction game of complete information (all bidders know the value of other bidders). There are three bidders for single object. Each bidder i has a value Ui for the object. Values are U1 10,U2 5, U3 Each bidder simultaneously and independently submits bid b; â‚¬ {0,1,2, 1} (bids have to be integers) for the object_ Suppose that the winner of the auction has to pay its own bid. For each bidder; identify all weakly dominated strategies.

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