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This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The … estimation strategy is computationally simple as it does not require solving for the equilibrium of the game. It uses a two stage … estimation method to repeated highway construction procurement auctions in the state of California between May 1996 and May 1999 …
Persistent link: https://www.econbiz.de/10012470090
measure how these estimates vary by country, over time, and by estimation method. We find evidence reporting (or file drawer …') bias in the estimates and, after due account is taken of this bias, we find that differences due to estimation method are …
Persistent link: https://www.econbiz.de/10012471319
We propose a conformant likelihood estimator with exogeneity restrictions (CLEER) for random coefficients discrete choice demand models that is applicable in a broad range of data settings. It combines the likelihoods of two mixed logit estimators--one for consumer level data, and one for...
Persistent link: https://www.econbiz.de/10015195043
Recently, economists have developed methods for structural estimation of auction models. Many researchers object to …
Persistent link: https://www.econbiz.de/10012468808
Economists have developed empirically tractable demand systems for fixed price markets. In contrast, empirical auction techniques treat each auction in isolation, ignoring market interactions. We provide a framework for estimating demand in a large auction market with a dynamic population of...
Persistent link: https://www.econbiz.de/10012456302
provide several suggestions for nonparamteric estimation of first-price auction models. Specifically, we show how to impose … nonparametric estimation. We further develop methods for automatic bandwidth selection. Finally, we discuss how to impose …
Persistent link: https://www.econbiz.de/10012461562
Structurally estimating the Grossman and Helpman (1994) model using coverage ratios that include non-tariff barriers leads to biased parameter estimates. We develop a "protection for sale" theoretical framework consistent with the data, by explicitly allowing for non-tariff barriers. Introducing...
Persistent link: https://www.econbiz.de/10012467416
We examine empirically how legal origin, creditor rights, property rights, legal formalism, and financial development affect the design of price and non-price terms of bank loans in almost 60 countries. Our results support the law and finance view that private contracts reflect differences in...
Persistent link: https://www.econbiz.de/10012467635
Externalities play a central role in most theories of economic growth. We argue that international externalities, in particular, are essential for explaining a number of empirical regularities about growth and development. Foremost among these is that many countries appear to share a common long...
Persistent link: https://www.econbiz.de/10012467678
exchange rate regimes in trade determination since a significant amount of world trade is conducted between countries with …
Persistent link: https://www.econbiz.de/10012467995