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Nonparametric Tests for Common Values in First-Price Sealed-Bid Auctions

Haile, Philip A.; Hong, Han; Shum, Matthew - 2004

only of the bids submitted at each auction, and are based on the fact that the "winner's curse" arises only in common … expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations …

Persistent link: https://www.econbiz.de/10011325023

Nonparametric Tests for Common Values in First-Price Sealed-Bid Auctions

Haile, Philip A.; Hong, Han; Shum, Matthew - Fondazione ENI Enrico Mattei (FEEM) - 2004

only of the bids submitted at each auction, and are based on the fact that the “winner’s curse” arises only in common … expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations …

Persistent link: https://www.econbiz.de/10005570327

Nonparametric tests for common values in first-price sealed-bid auctions

Haile, Philip A.; Hong, Han; Shum, Matthew - 2003

only of the bids submitted at each auction, and are based on the fact that the winner’s curse arises only in common values … expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations …

Persistent link: https://www.econbiz.de/10010293465

Nonparametric Tests for Common Values in First-Price Sealed-Bid Auctions

Haile, Philip A.; Hong, Han; Shum, Matthew - Cowles Foundation for Research in Economics, Yale University - 2003

observations only of the bids submitted at each auction, and are based on the fact that the "winner's curse" arises only in common … expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations …

Persistent link: https://www.econbiz.de/10005762657

Are there common values in first-price auctions? A tail-index nonparametric test

Hill, Jonathan B.; Shneyerov, Artyom - In: Journal of Econometrics 174 (2013) 2, pp. 144-164

unobserved auction heterogeneity of an arbitrary form. We develop a Hill (1975)-type tail index estimator and find the presence …

Persistent link: https://www.econbiz.de/10010664700

A new approach to identifying generalized competing risks models with application to second-price auctions

Komarova, Tatiana - In: Quantitative economics : QE ; journal of the … 4 (2013) 2, pp. 269-328

This paper proposes an approach to proving nonparametric identification for distributions of bidders’ values in asymmetric second-price auctions. I consider the case when bidders have independent private values and the only available data pertain to the winner’s identity and the transaction...

Persistent link: https://www.econbiz.de/10011757066

Nonparametric Identification and Estimation of Score Auctions in Multi-Attribute Procurement

Quiroga, Bernardo F. - 2020

Governmental agencies use score procurement auctions to incorporate other attributes beyond price in their purchase decisions. We establish nonparametric econometric identification of bidders' independent private (pseudo)types for multi-attribute procurement, where bids are evaluated using a...

Persistent link: https://www.econbiz.de/10012856880

Identification of time and risk preferences in buy price auctions

Ackerberg, Daniel A.; Hirano, Keisuke; Shahriar, Quazi - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 809-849

auction sites including eBay and General Motors Assistance Corporation. A buyer in a buy price auction can accept the buy … price to win with certainty and end the auction early. Intuitively, the buy price option may appeal to bidders who are risk … aversion and time preferences. We develop a private value model of bidder behavior in a buy price auction with a temporary buy …

Persistent link: https://www.econbiz.de/10011801642

Supplement to 'Quantile-Based Nonparametric Inference for First-Price Auctions'

Marmer, Vadim; Shneyerov, Artyom A. - 2009

Persistent link: https://www.econbiz.de/10014200461

Quantile-Based Nonparametric Inference for First-Price Auctions

Marmer, Vadim; Shneyerov, Artyom A. - 2010

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/10014200462

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