Nonparametric Estimation of Dutch and First-Price, Sealed-Bid Auction Models with Asymmetric Bidders

Within the independent private-values paradigm, we demonstrate nonparametric identification of Dutch and first-price, sealed-bid auction models when bidders are asymmetric. We also demonstrate that, in the presence of a binding reserve price, methods for estimating the distribution of valuations from data at Dutch auctions differ from those at first-price, sealed-bid auctions. The differences are illustrated by comparing the kernel-smoothed nonparametric estimators for each auction format