Suppose first that all three bidders are aware of the winner's curse so they have decided (independently) to bid 10% below their estimated values. Using 1000 iterations report the expected profit (or loss) to the winner.

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The Answer of Suppose first that all three bidders are aware of the winner's curse so they have decided (independently) to bid 10% below their estimated values. Using 1000 iterations report the expected profit (or loss) to the winner.

Suppose First That All Three Bidders Are Aware of the Winner's