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Detecting Collusion on Highway Procurement
Gabrielli, Florencia M. - In: Económica 59 (2013) January-December, pp. 127-165
to field data on procurement auctions for highway construction in California. I identify two different sets of firms as …
Persistent link: https://www.econbiz.de/10010742043
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Semiparametric estimation of first-price auction models
Aryal, Gaurab; Gabrielli, Maria Florencia; Vuong, Quang H. - In: Journal of business & economic statistics : JBES ; a … 39 (2021) 2, pp. 373-385
Persistent link: https://www.econbiz.de/10012499086
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Econometrics of First Price Auctions: a Survey of the Theoretical and Applied Literature
Gabrielli, Florencia - In: Económica 60 (2014) January-December, pp. 77-118
The analysis of auctions is an active area of research for both theoretical and empirical economists. This paper … provides an overview of the literature relevant to the econometrics of auctions from a structural approach perspective. The …
Persistent link: https://www.econbiz.de/10011164214
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The unique-lowest sealed-bid auction
Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - 2008
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest … bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two …
Persistent link: https://www.econbiz.de/10011374396
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Auction mechanisms and bidder collusion : bribes, signals and selection
Llorente-Saguer, Aniol; Zultan, Ro’i - 2014 - This version: November 20, 2014
The theoretical literature on collusion in auctions suggests that the first-price mechanism can deter the formation of … likely to affect the bidding behavior in first-price (but not second-price) auctions. We test experimentally a setup in which … collusion in first-price and second-price auctions. Furthermore, failed collusion attempts distort the bidding behavior in the …
Persistent link: https://www.econbiz.de/10010472820
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Information aggregation in competitive markets
Siga, Lucas; Mihm, Maximilian - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 1, pp. 161-196
We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information---the betweenness property---that is both necessary and sufficient for information aggregation. The characterization provides...
Persistent link: https://www.econbiz.de/10012415617
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Identification of time and risk preferences in buy price auctions
Ackerberg, Daniel A.; Hirano, Keisuke; Shahriar, Quazi - In: Quantitative Economics 8 (2017) 3, pp. 809-849
Buy price auctions merge a posted price option with a standard bidding mechanisms, and have been used by various online …'s expected revenue over standard auctions. We show that data from buy price auctions can be used to identify bidders' risk …
Persistent link: https://www.econbiz.de/10011995504
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Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry, Second Version
Fang, Hanming - 2012
auctions, auction theory predicts bid distributions in Bayesian Nash equilibrium does not convey any information about bidders … risk averse. We show bidders' expected profits from entry into auctions is nonparametrically recoverable, if a researcher …
Persistent link: https://www.econbiz.de/10013107410
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Identification in the Roy Model with an Application to Auctions
Adams, Christopher - 2012
without strong parametric assumptions. The result is applied to private value sealed bid auctions where bidders face competing … auctions for substitutes, such as in auction platforms like eBay or Google Adwords …
Persistent link: https://www.econbiz.de/10013107594
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Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry
Fang, Hanming - 2013
Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … of risk attitudes in a more general model of ascending auctions with selective entry, where bidders receive entry …
Persistent link: https://www.econbiz.de/10013074593