Zero Sum Games
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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]
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]
|11/21/2001 01:37 PM by drusscol; Need help on sealed bid auction game|