Complements and substitutes in sequential auctions: the case of water auctions.

Abstract: We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by paying a high price for the first unit, thus de...

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Bibliographic Details

Published in:	RAND Journal of Economics (Wiley-Blackwell) Vol. 49; no. 1; pp. 87 - 128
Main Authors:	Donna, Javier D., Espín‐Sánchez, José‐Antonio
Format:	Article
Published:	Wiley-Blackwell Spring2018
Subjects:	Economic demand Weather Multivariate analysis Agricultural productivity Structural equation modeling
Online Access:	View this record in EBSCOhost