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We develop a nonparametric approach that allows for discrimination among alternative models of entry in first-price auctions. Three models of entry are considered: those of Levin and Smith (1994), Samuelson (1985), and a new model in which the information received at the entry stage is...
Persistent link: https://www.econbiz.de/10004970943
The paper contains supplemental material for Marmer, Shneyerov, and Xu (2010) "What Model for Entry in First-Price Auctions? A Nonparametric Approach."
Persistent link: https://www.econbiz.de/10008471277
Persistent link: https://www.econbiz.de/10009764390
We develop a nonparametric approach that allows for discrimination among alternative models of entry in first-price auctions. Three models of entry are considered: those of Levin and Smith (1994), Samuelson (1985), and a new model in which the information received at the entry stage is...
Persistent link: https://www.econbiz.de/10013133392
Persistent link: https://www.econbiz.de/10012624567
We develop a selective entry model for first-price auctions that nests two polar models often estimated in the empirical literature on auctions, Levin and Smith (1994), and Samuelson (1985). The selective entry model features a pro-competitive selection effect. The selection effect is shown to...
Persistent link: https://www.econbiz.de/10010679101
Persistent link: https://www.econbiz.de/10010131793
This paper proposes several testing procedures for comparison of misspecified calibrated models. The proposed tests are of the Vuong-type (Vuong, 1989; Rivers and Vuong, 2002). In our framework, the econometrician selects values for model's parameters in order to match some characteristics of data...
Persistent link: https://www.econbiz.de/10004977015
We propose a quantile-based nonparametric approach to inference on the probability density function (PDF) of the private values in first-price sealed-bid auctions with independent private values. Our method of inference is based on a fully nonparametric kernel-based estimator of the quantiles...
Persistent link: https://www.econbiz.de/10004977019
This paper contains supplemental material for Gao, Hnatkovska, and Marmer (2013) "Limited Participation in International Business Cycle Models: A Formal Evaluation".
Persistent link: https://www.econbiz.de/10011184477