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|seen||Oct 11 '12 at 18:06|
|bio||website||failuretorefrain.com||visits||member for||4 years|
|location||seen||Oct 11 '12 at 18:06|
Can someone explain Cremer-Mclean's astonishing result in auction theory?
@Zermelo I'll definitely give this some more thought and edit my answer later. My story isn't robust to $i$ observing a first bid from $j$ lower than $i$'s estimate.