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nakungth nakungth
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6 years ago
You are playing a game in which a dollar bill is auctioned.  The highest bidder receives the dollar in return for the amount bid.  However, the second-highest bidder must pay the amount that he or she bids, and gets nothing in return.  The optimal strategy is:
A) to bid the smallest allowable increment below $1.
B) to bid nothing.
C) to bid $0.99.
D) to bid more than a dollar.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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oracledarrenoracledarren
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6 years ago
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#2
4 years ago
thank you very much
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