33. Consider the Vickrey auction for a lamp that is worth $100 to our bidder Bob (page 559). Suppose someone suggests that Bob would always do as well with a bid of $120. Show that this is false by playing the role of another bidder who could make Bob regret a choice of bidding $120 rather than his (sincere) bid of $100. You are free to make any assumptions you want about the bids other than Bob’s and your own.
33.
If I bid, say, $110, then Bob wins the lamp but pays $10 more than he thinks it’s worth. This is worse for him than bidding $100 and losing the auction.