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We propose a non-sequential search model with a continuum of consumers and a finite number of firms. Both consumers and firms are heterogeneous. Consumers differ in search costs. Firms have private marginal costs of production. We show that an equilibrium price dispersion can arise in this model...
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To estimate demand for labor, we use a combination of detailed employment data and the outcomes of procurement auctions …, and compare the employment of the winner of an auction with the employment of the second ranked firm (i.e. the runner …-up firm). Assuming similar ex-ante winning probabilities for both firms, we may view winning an auction as an exogenous shock …
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estimation method to repeated highway construction procurement auctions in the state of California between May 1996 and May 1999 … asymmetry, the auction can be inefficient. Based on the estimates of costs, we quantify efficiency losses …This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The …
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estimation method to repeated highway construction procurement auctions in the state of California between May 1996 and May 1999 … asymmetry, the auction can be inefficient. Based on the estimates of costs, we quantify efficiency losses …This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The …
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