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Respond to the question: Need help on sealed bid auction game?

11/14/2002 06:08 AM by name withheld;
payoff function is probability of your bid being higher (not equal: P[Y=x]=0) times (v-p). Uniform distribution on [0,1] gives us P[Y<x]=x. Assuming that the bidding functions are linear it is fairly easy to go on from there. [Manage messages]

11/21/2001 01:37 PM by drusscol; Need help on sealed bid auction game
I was given the following question for homework, and I'm having some trouble with it. Consider a first price, sealed bid auction. There are two bidders, 1 and 2. Bidder i values the good at v(i). If she pays p for the good then the [View full text and thread]