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2754脑筋急转弯困难derivationlong

Value of Tie-Breaking Priority

题目

Two bidders both plan to submit the same bid bb in a first-price auction. If bidder A wins ties with probability qq while bidder B wins ties with probability 1q1-q, what is the incremental expected value of A's tie-breaking priority at valuation vv, relative to a fair 50-50 tie break?

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