Detail Structural Estimation of The Affiliated Private Value Auction Model   Oleh:  Perrigne, Isabelle ; Tong, Li ; Quang, Vuong Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 33 no. 2 (2002), page 171-193. Topik: VALUES; structural estimation; private value; auction model Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We consider the structural estimation of the affiliated private value (APV) model in first - price sealed - bid auctions. The model allows for bidders' individual efficiencies and opportunity costs, while permitting dependence among bidders' private values through affiliation. We establish the nonparametric identification of the APV model, characterize its theoretical restrictions, and propose a computationally convenient and consistent two - step nonparametric estimation procedure for estimating the joint private value distribution from observed bids. Using simulated bid data, we provide a step - by - step guide on how to implement our procedure and show the good behaviour of our estimator in small samples. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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