Nonparametric Tests For Common Values At First Price Sealed Bid Auctions
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Nonparametric Tests For Common Values At First Price Sealed Bid Auctions
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Author : Philip A. Haile
language : en
Publisher:
Release Date : 2003
Nonparametric Tests For Common Values At First Price Sealed Bid Auctions written by Philip A. Haile and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Letting of contracts categories.
We develop tests for common values at first-price sealed-bid auctions. Our tests are nonparametric, require observation only of the bids submitted at each auction, and are based on the fact that the winner's curse' arises only in common values auctions. The tests build on recently developed methods for using observed bids to estimate each bidder's conditional expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations are invariant to the number of opponents each bidder faces, while with common values they are decreasing in the number of opponents. This distinction forms the basis of our tests. We consider both exogenous and endogenous variation in the number of bidders. Monte Carlo experiments show that our tests can perform well in samples of moderate sizes. We apply our tests to two different types of U.S. Forest Service timber auctions. For unit-price ( scaled') sales often argued to fit a private values model, our tests consistently fail to find evidence of common values. For lumpsum' sales, where a priori arguments for common values appear stronger, our tests yield mixed evidence against the private values hypothesis.
Nonparametric Tests For Common Values In Fixed Price Sealed Bid Auctions
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Author : Philip A. Haile
language : en
Publisher:
Release Date : 2004
Nonparametric Tests For Common Values In Fixed Price Sealed Bid Auctions written by Philip A. Haile and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
We develop tests for common values at first-price sealed-bid auctions. Our tests are nonparametric, require observation only of the bids submitted at each auction, and are based on the fact that the "winner's curse" arises only in common values auctions. The tests build on recently developed methods for using observed bids to estimate each bidder's conditional expectation of the value of winning the auction. Equilibrium behavior implies that in a private values auction these expectations are invariant to the number of opponents each bidder faces, while with common values they are decreasing in the number of opponents. This distinction forms the basis of our tests. We consider both exogenous and endogenous variation in the number of bidders. Monte Carlo experiments show that our tests can perform well in samples of moderate sizes. We apply our tests to two different types of U.S. Forest Service timber auctions. For unit-price ("scaled") sales often argued to fit a private values model, our tests consistently fail to find evidence of common values. For "lumpsum" sales, where a priori arguments for common values appear stronger, our tests yield mixed evidence against the private values hypothesis.
Nonparametric Econometrics
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Author : Qi Li
language : en
Publisher: Princeton University Press
Release Date : 2023-07-18
Nonparametric Econometrics written by Qi Li and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-18 with Business & Economics categories.
A comprehensive, up-to-date textbook on nonparametric methods for students and researchers Until now, students and researchers in nonparametric and semiparametric statistics and econometrics have had to turn to the latest journal articles to keep pace with these emerging methods of economic analysis. Nonparametric Econometrics fills a major gap by gathering together the most up-to-date theory and techniques and presenting them in a remarkably straightforward and accessible format. The empirical tests, data, and exercises included in this textbook help make it the ideal introduction for graduate students and an indispensable resource for researchers. Nonparametric and semiparametric methods have attracted a great deal of attention from statisticians in recent decades. While the majority of existing books on the subject operate from the presumption that the underlying data is strictly continuous in nature, more often than not social scientists deal with categorical data—nominal and ordinal—in applied settings. The conventional nonparametric approach to dealing with the presence of discrete variables is acknowledged to be unsatisfactory. This book is tailored to the needs of applied econometricians and social scientists. Qi Li and Jeffrey Racine emphasize nonparametric techniques suited to the rich array of data types—continuous, nominal, and ordinal—within one coherent framework. They also emphasize the properties of nonparametric estimators in the presence of potentially irrelevant variables. Nonparametric Econometrics covers all the material necessary to understand and apply nonparametric methods for real-world problems.
Handbook Of Econometrics
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Author : Zvi Griliches
language : en
Publisher: Elsevier
Release Date : 1983
Handbook Of Econometrics written by Zvi Griliches and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Business & Economics categories.
The Handbook is a definitive reference source and teaching aid for econometricians. It examines models, estimation theory, data analysis and field applications in econometrics.
Handbook Of Econometrics
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Author : James Joseph Heckman
language : en
Publisher: Elsevier
Release Date : 2007
Handbook Of Econometrics written by James Joseph Heckman and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Econometrics categories.
As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice ...
Antitrust Law Journal
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Author :
language : en
Publisher:
Release Date : 1986
Antitrust Law Journal written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Energy policy categories.
Handbook Of Research Methods And Applications In Empirical Microeconomics
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Author : Hashimzade, Nigar
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-11-18
Handbook Of Research Methods And Applications In Empirical Microeconomics written by Hashimzade, Nigar and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-18 with Business & Economics categories.
Written in a comprehensive yet accessible style, this Handbook introduces readers to a range of modern empirical methods with applications in microeconomics, illustrating how to use two of the most popular software packages, Stata and R, in microeconometric applications.
Econometrics
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Author : American Bar Association. Section of Antitrust Law
language : en
Publisher: American Bar Association
Release Date : 2005
Econometrics written by American Bar Association. Section of Antitrust Law and has been published by American Bar Association this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
"The economic expert has become a central figure in virtually every antitrust litigation or merger matter, and the importance of econometrics has increased significantly. A basic understanding of econometric principles has now become almost essential to the serious antitrust practitioner. This volume is designed to introduce lawyers to the theoretical and practical issues of econometrics, providing necessary tools for working effectively with economic experts on both sides of a matter." -- from the Foreword, p. xv.
Structural Econometric Modeling In Industrial Organization And Quantitative Marketing
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Author : Ali Hortaçsu
language : en
Publisher: Princeton University Press
Release Date : 2023-10-24
Structural Econometric Modeling In Industrial Organization And Quantitative Marketing written by Ali Hortaçsu and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-24 with Business & Economics categories.
A concise and rigorous introduction to widely used approaches in structural econometric modeling Structural econometric modeling specifies the structure of an economic model and estimates the model’s parameters from real-world data. Structural econometric modeling enables better economic theory–based predictions and policy counterfactuals. This book offers a primer on recent developments in these modeling techniques, which are used widely in empirical industrial organization, quantitative marketing, and related fields. It covers such topics as discrete choice modeling, demand modes, estimation of the firm entry models with strategic interactions, consumer search, and theory/empirics of auctions. The book makes highly technical material accessible to graduate students, describing key insights succinctly but without sacrificing rigor. • Concise overview of the most widely used structural econometric models • Rigorous and systematic treatment of the topics, emphasizing key insights • Coverage of demand estimation, estimation of static and dynamic game theoretic models, consumer search, and auctions • Focus on econometric models while providing concise reviews of relevant theoretical models
Handbook Of Industrial Organization
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Author :
language : en
Publisher: Elsevier
Release Date : 2021-12-09
Handbook Of Industrial Organization written by and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-09 with Business & Economics categories.
Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists