Friday, July 26, 2019

Fair Shares Essay Example | Topics and Well Written Essays - 250 words

Fair Shares - Essay Example Despite (or perhaps because of) your love of all things amphibious, you currently lack the funds to pay each of the others their probable fair share. You will not receive the collection, but wish to receive as much money as possible. You have no knowledge of the amounts in each of the sealed bids, but strongly suspect that Abraham will bid between $10,000.00 and $12,000.00. Soln. As I know that I cannot pay the others their probable fair share and so I won’t be able to win the collection and I also believe that Abraham will bid between $10000 to $12000 than I would think about putting a value that is just below the one that Abraham will put which in this case would be $9999. The reason for putting this value is that it will give me the highest possible fair share without having a chance of winning the items as the fair share that I will get if Abraham bids $10000 and wins it would be: And so the total amount that I will receive would be 2499.75+250.0625=$2749.8125. This is the highest amount that I can win considering that I cannot win the collection and Abraham’s bid will be between 10000 to

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