Private-Value, Sealed-Bid Auction Guide
Describe the private value auction setting as a game with the set of bidders \(N = \{1,2,\cdots,n\}\). For each bidder \(i\), he/she obtains value \(v_i\), which is randomly drawn from a uniformly distributed interval \(v_i \in [\underline{v}, \bar v]\) according to the cumulative distribution funct...