← 返回数学题库
2761脑筋急转弯简单derivationshort

Winner's-Curse Adjustment From a Symmetric Signal Band

题目

A common-value asset has expected resale value equal to the average of all bidders' signals. Your private signal is ss, and you know that winning means your signal was the highest among a symmetric signal band around the truth. Why should your bid be below ss even if E[value∣signal=s]=sE[value|signal=s]=s before conditioning on winning?

解题计时

0:00

提交作答时记录，用于后续平均用时统计。