Asymmetry in first-price auctions with a
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Sandra Campo; Isabelle Perrigne; Quang Vuong
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Article
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2003
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John Wiley and Sons
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English
β 416 KB
## Abstract Collusion and heterogeneity across firms may introduce asymmetry in bidding games. A major difficulty in asymmetric auctions is that the Bayesian Nash equilibrium strategies are solutions of an intractable system of differential equations. We propose a simple method for estimating asymm