Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/195537 
Erscheinungsjahr: 
2017
Quellenangabe: 
[Journal:] Quantitative Economics [ISSN:] 1759-7331 [Volume:] 8 [Issue:] 1 [Publisher:] The Econometric Society [Place:] New Haven, CT [Year:] 2017 [Pages:] 181-200
Verlag: 
The Econometric Society, New Haven, CT
Zusammenfassung: 
We present a partial identification approach for ascending auctions wit bidder asymmetries, where bidders' asymmetric types may be unobservable to the econometrician. Our approach yields sharp bounds and builds on and generalizes other recent bounds approaches for correlated private values ascending auctions. When bidder identities are observable , our approach yields tighter bounds than previous approaches that ignore asymmetry, demonstrating that bidder asymmetries can function as an aid rather than a hindrance to identification. We present a nonparametric estimation and inference approach relying on our identification argument and apply it to data from U.S. timber auctions, finding that bounds on optimal reserve prices and other objects of interest are noticeably tighter when exploiting bidder asymmetries.
Schlagwörter: 
Ascending auction
partial identification
correlated values
asymmetries
JEL: 
C10
D44
L10
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by-nc Logo
Dokumentart: 
Article

Datei(en):
Datei
Größe
817.84 kB





Publikationen in EconStor sind urheberrechtlich geschützt.