Guerre, Emmanuel; Perrigne, Isabelle; Vuong, Quang - In: Econometrica 77 (2009) 4, pp. 1193-1227
This paper studies the nonparametric identification of the first-price auction model with risk averse bidders within the private value paradigm. First, we show that the benchmark model is nonindentified from observed bids. We also derive the restrictions imposed by the model on observables and...