Not true in the presence of other bidders, where the threat is that someone else's true valuation may be below X. This is game theory domain, and I haven't modelled it, but I'm quite confident the outcome for each player is to bid at their true valuation.
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Not true in the presence of other bidders, where the threat is that someone else's true valuation may be below X. This is game theory domain, and I haven't modelled it, but I'm quite confident the outcome for each player is to bid at their true valuation.