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Adaptive Bidding in Single Sided Auctions under Uncertainty an  Form

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Vsauce! Kevin here, and I’m auctioning off the ultra-rare PlayStation 5: Jake Roper “Prepare to Cry” edition, which evokes the frustration and heartbreak of Jake’s fruitless attempts at securing his very own PS5. With this edition, you’re buying countless hours of entertainment -- and a monument to one man’s pain. I’m auctioning it using a system of sealed bids -- the bidders submit their price and we determine a winner. I’ve got 4 bids… Ready? Okay bid number one... Hideo Kojima? MY GREAT FRIEND HIDEO KOJIMA WHO I MET FOR 9 SECONDS IN 2013? Even HE can’t get a PS5? Alright well, $400, that’s pretty undervalued -- he must be a very patient and frugal man. The PS5 retails for $499, so if this bid wins, Kojima is getting a serious deal. Alright, bid #2: BALLOON KEVIN!? You are not Real Kevin! How many times? I am Real Kevin. How did you even get in here? Well, Whatever. And what is your bid? $3? $3. Okay. Balloon Kevin is a scammer. What a stupid bid. But I guess ma

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