When buyers hold private values, which of the following conditions leads to identical expected revenues under the English, sealed-bid, Dutch, and Vickrey auctions?
A) The true value of the good being auctioned is uncertain.
B) Some buyers adopt dominant strategies.
C) All risk-neutral buyers adopt equilibrium bidding strategies.
D) The probability that all competitors will choose the same bidding strategy is zero.
E) There are a large number of bidders with different reservation prices.

Question

Quizplus · Accepted Answer

When buyers hold private values and all risk-neutral buyers adopt equilibrium bidding strategies, the expected revenues will be identical across all four auctions.

When Buyers Hold Private Values, Which of the Following Conditions