Estimating Valuations in Auctions with an Uncertain Number of Bidders

I propose techniques for estimating value distributions for auctions with an uncertain number of bidders and test those techniques on auctions conducted in the lab. I estimate Bayes-Nash models with risk neutrality and risk aversion, a learning model, the Quantal Response Equilibrium model, and a modification of the Quantal Response Equilibrium model that rules out obvious mistakes. I also use simulations to show that my methods work well

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Year of publication:	2023
Authors:	Liang, Philip
Publisher:	[S.l.] : SSRN
Subject:	Auktionstheorie \| Auction theory \| Erwartungsnutzen \| Expected utility \| Auktion \| Auction

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Extent:	1 Online-Ressource (52 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4348117 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014257606