Hickman, Brent R.; Hubbard, Timothy P.; Paarsch, Harry J. - In: Quantitative Economics 8 (2017) 2, pp. 505-551
valuations, which would occur under the commonly assumed second-price rule. We demonstrate that misspecifying the pricing rule … model with a correctly specified pricing rule. A further challenge to econometricians is that only a lower bound on the …