Consider an auction with 1,000 risk-neutral bidders.It is know that these bidders have affiliated values.Based on this information we know the expected revenues for the different auction types will be

Question

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In auctions with affiliated values, the English auction tends to generate higher revenues than the second-price sealed-bid auction, which in turn generates higher revenues than the first-price sealed-bid and Dutch auctions, which are revenue equivalent.

Consider an Auction with 1,000 Risk-Neutral Bidders