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Excellent teaching! For me if the professor does an exercise with actual numbers, it would be better. ;)
Very good explanation, but sometimes I notice that payoff is replaced with utility and vise verse.
Doesn't the probability decrease with the number of N players?
is First price auction two player zero sum game?
No it's not. More than two bidders (players) can bid in first-price auctions. And loosers don't loose as much as winners gains. Loosers don't loose anything actually... First-price auctions are multiplayer games with incomplete information.
Viel besser than Helm
![(AGT10E6) [Game Theory] Solving First Price Auction with N Bidders: Part 2](http://i.ytimg.com/vi/kjlTGUSx-tY/mqdefault.jpg)
![(AGT10E6) [Game Theory] Solving First Price Auction with N Bidders: Part 2](/img/tr.png)
![(AGT10E3) [Game Theory] Vickrey (Second Price) Auction: The Game](http://i.ytimg.com/vi/KFsPDlZcEPs/mqdefault.jpg)
![(AGT10E4) [Game Theory] Solving Vickrey (Second Price) Auction: Weakly Dominant Strategy Equilibrium](/img/n.gif)
Excellent teaching! For me if the professor does an exercise with actual numbers, it would be better. ;)
Very good explanation, but sometimes I notice that payoff is replaced with utility and vise verse.
Doesn't the probability decrease with the number of N players?
is First price auction two player zero sum game?
No it's not. More than two bidders (players) can bid in first-price auctions. And loosers don't loose as much as winners gains. Loosers don't loose anything actually... First-price auctions are multiplayer games with incomplete information.
Viel besser than Helm