2752脑筋急转弯中等derivationmedium
Winner's Curse After Seeing High Against One Low Signal
题目
An asset has common value with prior . Each bidder receives a signal that equals the true state with probability , independently across bidders conditional on . You observe a high signal and learn that your rival observed a low signal. What is ? If you bid in a first-price auction and win for sure in this information set, what is your expected profit?
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你的答案
Posterior expected value
Expected profit