𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Nonparametric identification and estimation of a class of common value auction models

✍ Scribed by Philippe Février

Publisher
John Wiley and Sons
Year
2008
Tongue
English
Weight
168 KB
Volume
23
Category
Article
ISSN
0883-7252

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

Structural econometric studies on auctions have mainly focused on the independent private value paradigm. In this paper, we are interested in the ‘opposite’ case known as the pure common value model. More precisely, we restrict our attention to a class of common value models defined by three functions: the density of the true value of the auctioned good, a unique function that appears in the definition of the conditional densities of the signals, and the function that defines the support of the conditional densities. We establish that these common value models are nonparametrically identified without any further restrictions. We then propose a one‐step nonparametric estimation method and prove the uniform consistency of our estimators. We apply our method on simulated data and show that the technique we propose is adequate to recover the distribution functions of interest. Copyright © 2008 John Wiley & Sons, Ltd.

📜 SIMILAR VOLUMES

Identification and estimation of a class
Identification and estimation of a class of household production models
✍ Marcel Kerkhofs; Peter Kooreman 📂 Article 📅 2003 🏛 John Wiley and Sons 🌐 English ⚖ 272 KB

## Abstract We consider a class of household production models characterized by a dichotomy property. In these models the amount of time spent on household production does not depend on the household utility function, conditional on household members having a paid job. We analyse the (non‐parametri

Identification and estimation of bounds
Identification and estimation of bounds on school performance measures: a nonparametric analysis of a mixture model with verification
✍ Jeff Dominitz; Robert P. Sherman 📂 Article 📅 2006 🏛 John Wiley and Sons 🌐 English ⚖ 620 KB

## Abstract This paper identifies and nonparametrically estimates sharp bounds on school performance measures based on test scores that may not be valid for all students. A mixture model with verification is developed to handle this problem. This is a mixture model for data that can be partitioned

Posterior odds comparison of a symmetric
Posterior odds comparison of a symmetric low-price, sealed-bid auction within the common-value and the independent-private-values paradigms
✍ Samita Sareen 📂 Article 📅 1999 🏛 John Wiley and Sons 🌐 English ⚖ 255 KB

I attempt to decide, using the posterior odds ratio, whether the symmetric common-value paradigm or the symmetric independent-private-values paradigm is a more probable explanation of the low-price, sealed-bid auctions conducted by the Indian Oil Corporation to purchase crude-oil from the internatio