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Structural Analysis of Ascending Auctions: an Application to Wholesale Used-car Auctions

Author

Listed:
  • Joonsuk Lee
  • Kyoo il Kim

Abstract

With the availability of a rich data set, we will develop a new method of conducting structural analysis of ascending auctions under the simplest valuation paradigm, the symmetric IPV model. The data set allows us to adopt a nonparametric approach and make strong interpretation of observed bids, including losing bids, while making a few assumptions about bidding behavior of the model. IdentiÂ…cation and estimation are based on the recent work by Song (2003) that we extend by using one more order statistics and developing better procedure to control auction heterogeneity. We then implement nonparametric tests by Athey and Haile (2002)

Suggested Citation

  • Joonsuk Lee & Kyoo il Kim, 2004. "Structural Analysis of Ascending Auctions: an Application to Wholesale Used-car Auctions," Econometric Society 2004 Far Eastern Meetings 709, Econometric Society.
    • Handle: RePEc:ecm:feam04:709
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    More about this item

    Keywords

    Ascending auctions; structural analysis; nonparametric estimation;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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