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What is the sellers expected revenue in both auctions and

Compute the equilibrium bidding strategy in both first- and second- price auctions when the seller sets a reserve price equal to v0.

That is, the seller only accepts bids that are greater or equal to v0.

What is the seller's expected revenue in both auctions? Does revenue equivalence still hold?

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Basic Statistics: What is the sellers expected revenue in both auctions and

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