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What is First-Price Auction Game Theory Analysis about?

This document contains 6 exercises related to game theory and auctions with incomplete information. Exercise 1 and 2 describe a sealed bid auction with 2 bidders who have uncertain valuations and ask students to represent the game tree, find the strategy sets, and determine the Bayesian Nash equilibria. Exercise 3 asks students to prove a property of symmetric equilibrium strategies in first-price auctions. Exercise 4 considers a risk-averse version of the auction and asks students to prove the strategies f

Author

Hoanglucia

Language

EN