200 pieces of 1 dollar coins, for each one it has equal probability to go into the pot or not. You will bid for that pot (get the money in the pot but you don't know how many coins are exactly in the pot). Anyone who offers the highest bid win the auction. What would you bid (with 1 competitor, 10 competitors)? Now if just we two bid and we are trying our best strategy, but I have the advantage of knowing how many of the first 10 coins go into the pot. What will be our strategies? How much will you bid and what is your expected payoff?
