2760脑筋急转弯中等derivationmedium
General Procurement Bid Function With Four Suppliers
题目
A procurement auction has four risk-neutral suppliers with i.i.d. costs . The lowest bid wins and is paid its own bid. Derive the symmetric equilibrium bid function, and compute the bid of a supplier with cost .
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你的答案
Equilibrium bid function
Bid at cost 0.3