Recent surveys on the labor-supply responses of men document a divergence in the estimates of substitution and income effects obtained using various estimation approaches. Generally, studies accounting for nonlinear tax schedules in a static setting via a piecewise-linear approach produce...

In models of first-price auctions, when bidders are ex ante heterogeneous, deriving explicit equilibrium bid functions is typically impossible, so numerical methods are often employed to find approximate solutions. Recent theoretical research concerning asymmetric auctions has determined some...

Within the independent private-values paradigm, we derive the data-generating process of the winning bid for the last unit sold at multi-unit sequential English auctions when bidder valuations are draws from different distributions; i.e., in the presence of asymmetries. When the identity of the...

Because of discrete bid increments, bidders at electronic auctions engage in shading instead of revealing their valuations, which would occur under the commonly assumed second-price rule. We demonstrate that misspecifying the pricing rule can lead to biased estimates of the latent valuation...

Abstract By making gathering large samples of data (Big Data) almost trivial, the Information Revolution has changed fundamentally how many scientists now conduct empirical research. The explosion in the variety and volume of information that is Big Data has in many cases altered both the...