2745脑筋急转弯中等derivationmedium
Reverse Auction With Two Suppliers
题目
A buyer runs a sealed-bid procurement auction with two risk-neutral suppliers. Each supplier's cost is i.i.d. , and the lowest bid wins and is paid its own bid. Derive the symmetric equilibrium bid function , and compute the expected profit of a supplier with cost .
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你的答案
Symmetric Equilibrium Bid Function
Equilibrium Bid at Cost 0.2
Expected Profit at Cost 0.2