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Persistent link: https://www.econbiz.de/10009754021
We develop a new econometric approach for estimation of second-price ascending-bid auctions with a stochastic number of bidders. Our empirical framework considers the arrival process of new bidders as well as the distribution of bidders’ valuations of objects being auctioned. By observing the...
Persistent link: https://www.econbiz.de/10014054339