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Traders' bidding strategies on European grain export refunds : an analysis with affiliated signals


  • Jean-Marc Bourgeon

    (UPN - Université Paris Nanterre)

  • Yves Le Roux

    (ESR - Unité de recherche d'Économie et Sociologie Rurales - INRA - Institut National de la Recherche Agronomique)


Grâce à une spécification d'une distribution multivariée de l'information détenue par les opérateurs et dans le cas où cette distribution présente de faibles corrélations, sont spécifiées les stratégies d'offre des opérateurs lors des adjudications de stocks d'intervention de blé tendre européen. Il peut être mis en évidence que les corrélations ont des effets opposés sur les stratégies d'offre, suivant les hypothèses retenues pour la valorisation du bien par les acheteurs. Cette approche structurelle permet d'estimer les stratégies d'offre selon deux méthodes économétriques. En particulier, est estimé le modèle avec corrélation sous l'hypothèse de valeur commune.

Suggested Citation

  • Jean-Marc Bourgeon & Yves Le Roux, 2001. "Traders' bidding strategies on European grain export refunds : an analysis with affiliated signals," Post-Print hal-02360532, HAL.
  • Handle: RePEc:hal:journl:hal-02360532
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    Cited by:

    1. John M. Crespi & Richard J. Sexton, 2004. "Bidding for Cattle in the Texas Panhandle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(3), pages 660-674.
    2. Tostao, Emilio & Chung, Chanjin & Brorsen, B. Wade, 2006. "Integrating the Structural Auction Approach and Traditional Measures of Market Power," 2006 Annual meeting, July 23-26, Long Beach, CA 21244, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).


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