Bayesian Nash Equilibrium ·
The First-Price Auction
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.com · Harsanyi 1967-68 · b(v) = v·(N−1)/N
N bidders
2
Stage
—
Beat
—
Bidder 1 (private type v₁)
Bidder 2 (private type v₂)
Equilibrium bid b(v)
True valuation v
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