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On Inferring Demand for Health Care in the Presence of Anchoring, Acquiescence, and Selection Biases
Bhattacharya, Jay - 2010
In the contingent valuation literature, both anchoring and acquiescence biases pose problems when using an iterative bidding game to infer willingness to pay. Anchoring bias occurs when the willingness to pay estimate is sensitive to the initially presented starting value. Acquiescence bias...
Persistent link: https://www.econbiz.de/10012759461
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Winning Play in Spectrum Auctions
Bulow, Jeremy; Levin, Jonathan; Milgrom, Paul R. - 2021
We describe factors that make bidding in large spectrum auctions complex -- including exposure and budget problems, the role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game-theoretic analysis can assist bidders in overcoming these...
Persistent link: https://www.econbiz.de/10013229378
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Competitive Equilibrium in Markets for Votes
Casella, Alessandra - 2010
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of Ex Ante Vote-Trading Equilibrium, identify weak sufficient conditions for existence, and construct one such...
Persistent link: https://www.econbiz.de/10013138767
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Naturally Occurring Markets and Exogenous Laboratory Experiments : A Case Study of the Winner's Curse
Harrison, Glenn W. - 2010
There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the...
Persistent link: https://www.econbiz.de/10012760103
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Last Minute Bidding and the Rules for Ending Second-Price Auctions : Theory and Evidence from a Natural Experiment on the Internet
Roth, Alvin E.; Ockenfels, Axel - 2021
have a fixed end time. A natural experiment is available because the auctions on Amazon, while operating under otherwise …
Persistent link: https://www.econbiz.de/10013247196
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Choice Screen Auctions
Ostrovsky, Michael - 2022
Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google's Android platform instead of being automatically defaulted to Google's own search engine. I show that a seemingly minor detail in the design of these...
Persistent link: https://www.econbiz.de/10014090768
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Professionals Do Not Play Minimax : Evidence from Major League Baseball and the National Football League
Kovash, Kenneth; Levitt, Steven D. - 2021
pitch type in Major League Baseball and whether to run or pass in the National Football League. We observe more than three … million pitches in baseball and 125,000 play choices for football. We find systematic deviations from minimax play in both … errors could be worth as many as two additional victories a year to a Major League Baseball franchise, and more than a half …
Persistent link: https://www.econbiz.de/10013224414
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Set-Asides and Subsidies in Auctions
Athey, Susan - 2011
-asides. Our estimates suggest that restricting entry to small businesses substantially reduces efficiency and revenue, although it … small bidder profit, while eliminating almost all of the efficiency loss of set-asides, and only slightly decreasing the …
Persistent link: https://www.econbiz.de/10013128845
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When Should Sellers Use Auctions?
Roberts, James W. - 2011
estimates predict that the sequential mechanism would increase revenue and efficiency …
Persistent link: https://www.econbiz.de/10013118122
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Empirical Implementation of Nonparametric First-Price Auction Models
Henderson, Daniel J. - 2011
Nonparametric estimators provide a flexible means of uncovering salient features of auction data. Although these estimators are popular in the literature, many key features necessary for proper implementation have yet to be uncovered. Here we provide several suggestions for nonparamteric...
Persistent link: https://www.econbiz.de/10013124543