Quesiton: A third price auction is similar to a Vickrey auction except that the winner (the bidder with the highest bid) pays the third higest bid. Is it a dominant strategy in this auction to bid one's valuation? If yes, provide a sketch of the proof. If not, provide an example. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.