What should a student bid and what is the expected revenue


Problem

You have 50 concert tickets to sell and there are 100 students. You ask students to bid, the highest 50 Will Win and you charge the 51 highest bid from every Winning student. For simplicity, you can assume students' values are drawn i.i.d from U[0, l].

• What should a student bid'?
• What is the expected revenue?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: What should a student bid and what is the expected revenue
Reference No:- TGS03266105

Expected delivery within 24 Hours