Academic help online

Academic help online
Under the assumption that each bidder’s density, fi, is continuous and strictly positive and that each vi − (1 − Fi(vi))/fi(vi) is strictly increasing, (a) Show that the optimal selling mechanism entails the seller keeping the object with strictly positive probability. (b) Show that there is precisely one ρ∗ ∈ [0, 1] satisfying ρ∗ − (1 − F(ρ∗))/f(ρ∗) = 0.

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