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Artificial Intelligence and Auction Design

Data Skeptic

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Is the Second Price Auction a Great Way to Collude?

In a second price auction, if you're overbidding me, i'm losing, and i want a bit more than you to win. But in the first place action, there is a reason to come down. There's a reason is to try to maximize your profits, even when you're over bidding your opponent.

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