A First-Price Sealed-Bid Asymmetric Auction When Two Bidders Have Respective CRRA and General Utility Functions

Table 2

Verification of the assumption b_α ≥ b_β.

θα	0.2	0.3	0.35	0.4	0.41	0.8
ρβ	0.7	0.8	0.8	0.8	0.8	0.2
bα	0.8762	0.8635	0.8492	0.8354	0.8328	0.6400
bβ	0.7915	0.8347	0.8269	0.8194	0.8179	0.3114