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Game theory basics
·
Module 7
Applications: Auctions and Bidding Strategy
1
Auction Strategies: First-Price vs. Second-Price Bidding
Compare the rules and strategic implications of first-price and second-price sealed-bid auctions.
Truthful Bidding in Second-Price Auctions
Prove that truthful bidding is a dominant strategy in a second-price sealed-bid auction with private values.
3
Expected Profit in First-Price Sealed-Bid Auctions
Formulate a bidder's expected profit in a symmetric first-price sealed-bid auction with uniformly distributed private values.
4
Symmetric Bidding in First-Price Auctions
Derive the symmetric Bayesian Nash Equilibrium bidding strategy in a first-price sealed-bid auction.
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Static Games of Incomplete Information
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Dynamic Games of Incomplete Information