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Unobserved correlation in private-value ascending auctions

In private-value ascending auctions, the winner's willingness to pay is not observed, leading to underidentification of many econometric models. I calculate tight bounds on expected revenue and optimal reserve price for the case of symmetric and affiliated private values.
Year of publication:
2008
Authors: Quint, Daniel
Published in:
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 100.2008, 3, p. 432-434
Publisher: Elsevier
Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005361898
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