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PDF-1AnIlluminatingExampleInsightsintothestrengthofauctionsasasellingmecha PDF document

RMvhisdsInparticularforparameters 1 222lethix iMx i1sothatFixjvRxv iMs i1ds RMv iMs i1ds1Mx i Mv i1DenotethefundamentalsofthecommonvalueproblembyE gF1F2

RMvhi(s)ds:Inparticular forparameters =( 1; 2)22++ lethi(x)= i(Mx) i1sothatFi(xjv)=Rxv i(Ms) i1ds RMv i(Ms) i1ds=1(Mx) i (Mv) i:(1)Denotethefundamentalsofthecommon-valueproblembyE =(g;F1;F2).

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