In a sealed-bid, second-price auction, you should bid

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In a sealed-bid, second-price auction, you should bid

In a sealed-bid, second-price auction, you should bid

▸ your estimate of what others value the good at.

▸ one dollar more than your estimate of what the second-highest bid will be.

▸ your highest value.

▸ the common value of the good.

Textbook

Managerial Economics and Strategy

Edition: 3^rd

Authors: Perloff, Brander

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