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Efficient local IV estimation of an empirical auction model

✍ Scribed by Han Hong; Denis Nekipelov


Book ID
113700360
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
276 KB
Volume
168
Category
Article
ISSN
0304-4076

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## Abstract We construct a model of participation and bidding at multi‐unit, sequential, clock auctions when bidders have multi‐unit demand. We describe conditions sufficient to characterize a symmetric, perfect‐Bayesian equilibrium and then demonstrate that this equilibrium induces an efficient al