Econometrics of Ascending Auctions by Quantile Regression
This paper suggests an identification and estimation approach based on quantile regression to recover the underlying distribution of bidders' private values in ascending auctions under the IPV paradigm. The quantile regression approach provides a flexible and convenient parametrization of the private values distribution, with an estimation methodology easy to implement and with several specification tests. The quantile framework provides a new focus on the quantile level of the private values distribution, in particular the seller's optimal screening level, which can be very useful for bidders and seller. An empirical application using data from the USFS timber auctions illustrates the methodology.
The Review of Economics and Statistics V 99, N 5, P 944-953, 2017
Nathalie Gimenes.
Publications
-
Não apague isso
EconomiA
2050 -
Daniel Adib, João Ayres, Silvia Matos, Marco Bonomo, Carlos Viana de Carvalho, Stefano Eusepi, Marina Perrupato Mendonça.
Abrupt Monetary Policy Change and Unanchoring of Inflation Expectations (a sair)
Journal of Monetary Economics
2024 -
Larry Ball, Chris Evans, Luca Ricci, Carlos Viana de Carvalho.
Weighted Median Inflation Around the World: A Measure of Core Inflation
Journal of International Money and Finance
2024