1. Second-Price Auctions: Show that in a second-price sealed-bid auction bidding your valuation weakly dominates bidding above your valuation.
2. Complete Information: Consider a set of N players participating in a sealedbid second-price auction, but assume that there is complete information so that each player knows the valuation of every other player.
a. Is it still true that each player bidding his valuation is a weakly dominant strategy?
b. Are there other Nash equilibria of this game?