Structural Econometrics of Auctions: A Review
نویسندگان
چکیده
منابع مشابه
Econometrics of Sealed-bid Auctions
1. Introduction. Recent empirical and anecdotal evidence suggests that different auction rules generate important differences in bidding behavior. Milgrom (1996) compares auctions for the sale of the radio spectrum held in the United States, New Zealand and Australia. The Australian and New Zealand auctions were characterized by wildly different prices for similar bandwidths. In the United Stat...
متن کاملeconometrics of auctions with asymmetric anonymous bidders
We consider standard auction models when bidders’ identities are not -or partiallyobserved by the econometrician. First, we adapt the definition of identifiability to a framework with anonymous bids and we explore the extent to which anonymity reduces the possibility to identify private value auction models. Second, in the asymmetric independent private value model which is nonparametrically id...
متن کاملEconometrics of Auctions by Least Squares
This paper proposes a method to structurally estimate an auction model using a variation of OLS, under commonly held assumptions in both auction theory and econometrics. In spite of its computational simplicity, the method applies to a wide variety of environments, including interdependent values in general, and certain forms of endogenous participation and bidder asymmetry. Furthermore, it can...
متن کاملEconometrics of First-Price Auctions with Binding Reservation Prices*
This paper considers the structural estimation of first-price auctions with binding reservation prices. The presence of binding reservation prices complicates the structural analysis as the number of autual bidders is not equal to the number of potential bidders. Ignoring such an issue will lead to inconsistent estimates due to the endogeneity of the number of actual bidders. Allowing for the n...
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ژورنال
عنوان ژورنال: Foundations and Trends® in Econometrics
سال: 2018
ISSN: 1551-3076,1551-3084
DOI: 10.1561/0800000031