South Korea raised the nation-wide minimum wage substantially over the past two years (2018 and 2019), and the minimum wage rose from 53 percent of the median wage to 63 percent. While the minimum wage has been increasing steadily over the decades, the rapid pace was largely unexpected and...

With the availability of a rich data set, we will develop a new method of conducting structural analysis of ascending auctions under the simplest valuation paradigm, the symmetric IPV model. The data set allows us to adopt a nonparametric approach and make strong interpretation of observed bids,...