Find a symmetric equilibrium- what is the sellers expected, Business Management

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Find a symmetric equilibrium- what is the sellers expected

Consider a sealed-bid second-price auction with entry fee λ and n buyers, whose private values are independent and uniformly distributed over [0,1].

(a) Find a symmetric equilibrium.

(b) What is the seller's expected revenue?

(d) What value does the optimal entry fee approach as the number of buyers increases to ∞?

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Business Management: Find a symmetric equilibrium- what is the sellers expected

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