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You don’t need reference to answer rhis question.
Consider a second-price sealed-bid (private-value) auction with N bidders that have different valuations of the object. Suppose that if K (K>1) bidders submit the highest bid each
gets the object with probability 1/K. Denote the valuation of bidder i by vi and the bid of agent i – by bi . Demonstrate that for each bidder i submitting bi vi , i.e. bidding truthfully, is a weakly dominant strategy.
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