Kirkegaard, René (contributor); … - 2003 - [Elektronische Ressource]
, increasing bidding
strategies, the fine details of any bidder’s bid function are only consequential
if there happens to be a … the last round if he won the
first and v
i
if he lost. This is just bidding one’s value in the last round.
More … they each win
one item in equilibrium.
11
Hence, optimal bidding by i in the first round is
derived from an indifference …