9 problems
micro, macro, e
conometrics
HEC Montréal
Year 3 practice Full solutions
every step worked o
ut
Advanced micro, advanced macro and econometrics: games, information,
dynamics and causal inference.
Unofficial practice based on public course descriptions for this level. Not affiliated with or
endorsed by HEC Montréal.
, Micro · Problems 1 to 3 HEC Montréal · Year 3 style
Auctions
Problem 1 Problem 2 Problem 3
Second-price auction First-price auction Comparison
Two bidders, private values uniform on Same bidders. The equilibrium bid is b(v) Same setting.
[0, 100]. = v ÷ 2.
1. Which format earns more?
1. Optimal bid? 1. Bid with value 60? 2. Name the result.
2. Expected revenue? 2. Expected revenue?
Unofficial practice · Solutions on the next page · HEC Montréal Year 3 style · 02