Titlebook: Auction Theory; Introductory Exercis Pak-Sing Choi,Felix Munoz-Garcia Textbook 2021 The Editor(s) (if applicable) and The Author(s), under

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The Revenue Equivalence Principle,t, Exercise 6.1 considers the first-price, second-price, third-price, and all-pay auctions from the previous chapters, evaluating the expected revenue that each of them generate, and showing that the expected revenue coincides.

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Procurement Auctions,settings. In these auctions, firms compete to be awarded the service delivery contract, privately observe their costs, and bid to a social planner who seeks to award the contract to the most efficient firm (lowest cost).

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Auction Theory978-3-030-69575-0Series ISSN 2192-4333 Series E-ISSN 2192-4341

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Labeling and ordering the paths we measure the seller’s expected revenue in this auction format when bidders draw their valuations from a generic distribution function and then evaluate this expected revenue in the case that bidders’ valuations are uniformly distributed.

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Labeling and ordering the pathst, Exercise 6.1 considers the first-price, second-price, third-price, and all-pay auctions from the previous chapters, evaluating the expected revenue that each of them generate, and showing that the expected revenue coincides.

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