How Many Bidders to Recruit
Each bidder Esubi recruits costs 4 dollars and places an independent bid Uniform(200, 1800). The item sells at the 4th highest bid, so she needs at least 4 bidders. For independent bids uniform on , the expected th highest bid is
How many bidders maximise her expected profit, meaning sale price minus total recruiting cost?
Answer format: enter an integer.
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