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Estimating Auctions with Externalities: The Case of USFS Timber Auctions

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  • Kuehn, Joseph

Abstract

This paper studies how bidding strategies and auction outcomes are affected by downstream competition, particularly for USFS timber auctions. This is done by extending the auction estimation literature to a model where outside competition affects bidding behavior in that bidders are then not only concerned with whether they win the auction, but also the identity of the winner if it is not them. Applying the estimation technique to the case of timber auctions, I find that downstream competition in the lumber industry affects the bidding behavior of mill bidders, sometimes leading to the misallocation of timber tracts.

Suggested Citation

  • Kuehn, Joseph, 2016. "Estimating Auctions with Externalities: The Case of USFS Timber Auctions," MPRA Paper 74775, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:74775
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    File URL: https://mpra.ub.uni-muenchen.de/74775/1/MPRA_paper_74775.pdf
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    Cited by:

    1. repec:spo:wpmain:info:hdl:2441/1qif9fqehq930ovnr511k1el4f is not listed on IDEAS
    2. Michele Fioretti & Jorge Tamayo, 2021. "Saving for a Dry Day: Coal, Dams, and the Energy Transition," Working Papers hal-03389152, HAL.
    3. Norbäck, Pehr-Johan & Persson, Lars & Svensson, Roger, 2017. "Verifying High Quality: Entry for Sale," Working Paper Series 1186, Research Institute of Industrial Economics.
    4. repec:spo:wpecon:info:hdl:2441/1qif9fqehq930ovnr511k1el4f is not listed on IDEAS

    More about this item

    Keywords

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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L73 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Forest Products

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