Find a Nash Equilibrium of the second price sealed bid auction that is different from [v1, v2, 0, ....0]
Another Nash equilibrium will be where everyone is declaring their true value. So, the strategy will be [v1,v2,v3,....,vn]
Our claim is that it is a weakly dominant strategy for each of the players.
Proof of the claim -
Thus, it is another Nash equilibrium.
Get Answers For Free
Most questions answered within 1 hours.