Hubbard, Timothy P.; Li, Tong; Paarsch, Harry J. - In: Journal of Econometrics 168 (2012) 1, pp. 4-16
Within the affiliated private-values paradigm, we develop a tractable empirical model of equilibrium behaviour at first-price, sealed-bid auctions. The model is non-parametrically identified, but the rate of convergence in estimation is slow when the number of bidders is even moderately large,...