Multiple Choice
In general, with a first-price sealed-bid auction with private values, the Nash equilibrium bids will:
A) increase as the number of bidders goes up.
B) decrease as the number of bidders goes up.
C) not be affected by the number of bidders in the auction.
D) decrease at a rate of 1/N where N is the number of bidders in the auction.
Correct Answer:
Verified
Correct Answer:
Verified
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