Suppose that there are n buyers participating in an auction, Business Management

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Suppose that there are n buyers participating in an auction

Suppose that there are n buyers participating in an auction, where the private values V₁, V₂,...,V_n are independent and identically distributed, with the cumulative distribution function F_i(v_i) = (v_i)² for v ∈ [0, 1].

Which auction maximizes the seller's expected revenue? What is the seller's expected revenue in that auction?

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Business Management: Suppose that there are n buyers participating in an auction

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Business Management: Suppose that there are n buyers participating in an auction

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