Identification of first-price auctions with non-separable unobserved heterogeneity
نویسندگان
چکیده
منابع مشابه
Identification of first-price auctions with non-separable unobserved heterogeneity
We propose a novel methodology for identification of first-price auctions, when bidders’ private valuations are independent conditional on one-dimensional unobserved heterogeneity. We extend the existing literature (Li and Vuong (1998), Krasnokutskaya (2011)) by allowing the unobserved heterogeneity to be nonseparable from bidders’ valuations. Our central identifying assumption is that the dist...
متن کاملNonparametric Identification of First-Price Auctions with Non-Separable Unobserved Heterogeneity
We propose a novel methodology for nonparametric identification of first-price auction models with independent private values, which allows for one-dimensional auctionspecific unobserved heterogeneity, based on recent results from the econometric literature on nonclassical measurement error in Hu and Schennach (2008). Our approach can accommodate a wide variety of applications in which some loc...
متن کاملIdentification in Symmetric English Auctions with Additively Separable Unobserved Heterogeneity
I consider identification of a symmetric, independent private values model with additively separable unobserved heterogeneity from observation of winning bids in English auctions. If the number of bidders N is observable, the model is identified given exogenous variation in N , and N need only take two values. If N is not observable, the model is identified if observations are available from au...
متن کاملNonparametric Identification of Auction Models with Non-Separable Unobserved Heterogeneity∗
We propose a novel methodology for nonparametric identification of first-price auction models with independent private values, which accommodates auction-specific unobserved heterogeneity and bidder asymmetries, based on recent results from the econometric literature on nonclassical measurement error in Hu and Schennach (2008). Unlike Krasnokutskaya (2009), we do not require that equilibrium bi...
متن کاملIdentification and Estimation of Risk Aversion in First Price Auctions With Unobserved Auction Heterogeneity
We extent the point-identification result in Guerre, Perrigne, and Vuong (2009) to environments with one-dimensional unobserved auction heterogeneity. In addition, we also show a robustness result for the case where the exclusion restriction used for point identification is violated: We provide conditions to ensure that the primitives recovered under the violated exclusion restriction still bou...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Econometrics
سال: 2013
ISSN: 0304-4076
DOI: 10.1016/j.jeconom.2013.02.005