Estimation in English auctions with unobserved heterogeneity.
We propose a framework for identification and estimation of a private values model with unobserved heterogeneity from bid data in English auctions, using variation in the number of bidders across auctions, and extend the framework to settings where the number of bidders is not cleanly observed in ea...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 51; no. 3; pp. 868 - 905 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Sep2020
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=145532469&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 145532469 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Sep2020 vid: 51 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 145532469 10.1111/1756-2171.12343 ppf: 868 ppct: 37 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 902KB tig: atl: Estimation in English auctions with unobserved heterogeneity. aug: au: Hernández, Cristián Quint, Daniel Turansick, Christopher affil: NERA Economic Consulting University of Wisconsin‐Madison Georgetown University su: Heterogeneity Auctions Bidders sug: subj: Heterogeneity Auctions Bidders ab: We propose a framework for identification and estimation of a private values model with unobserved heterogeneity from bid data in English auctions, using variation in the number of bidders across auctions, and extend the framework to settings where the number of bidders is not cleanly observed in each auction. We illustrate our method on data from eBay Motors auctions. We find that unobserved heterogeneity is important, accounting for two thirds of price variation after controlling for observables, and that welfare measures would be dramatically misestimated if unobserved heterogeneity were ignored. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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