The notion behind the fully cursed equilibrium is that bidders know the distribution of actions taken by the other bidders but do not make any relationship between these actions and the underlying valuations.

Question

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In the fully cursed equilibrium, bidders understand the distribution of actions (bids) of others but fail to infer any information about the others' private valuations from these actions, acting as if others' bids do not provide information about the value of the item being auctioned.

The Notion Behind the Fully Cursed Equilibrium Is That Bidders