Eco514 Game Theory Problem Set 3: Due Thursday, October 28 1. Asymmetric Auctions Consider an interdependent-values auction with two bidders, each of whom observes an i.i.d uniform signal E [0, 1]. Bidder i's valuation for the object is equal to vi
Multiple Choice 1. Equilibrium a. is a concept unique to economics. b. always occurs where supply equals demand. C. results when opposing forces fail to cancel each other out. d. indicates balance. e. all of the above