Identification in Ascending Auctions, with an Application to Digital Rights Management
Author: Joachim Freyberger
Publisher:
Published: 2020
Total Pages:
ISBN-13:
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Sample Spacings for Identification
Author: Marleen Marra
Publisher:
Published: 2020
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKThis paper presents new nonparametric identification results for ascending auctions with independent private values. The standard identification approach is infeasible in the motivating setting, because absentee bidding conceals the number of bidders. I exploit insights from the statistics literature about the stochastic ordering of adjacent sample spacings. I show how to use such sample spacings to set-identify structural features, using an incomplete model and without knowing all highest bids or the number of bidders. Applying the sample spacing method to a small sample of wine auctions, I show that it identifies informative bounds on policy-relevant counterfactuals. It turns out that Sotheby's restricts full exploitation of the exclusion principle of optimal reserve prices. As a result, sellers set sub-optimally low reserve prices. They benefit up to 13% from adopting a common reserve price rule equal to 120% of the Wine Department's pre-auction value estimate.
Handbook of Industrial Organization
Author: Kate Ho
Publisher: Elsevier
Published: 2021-12-09
Total Pages: 782
ISBN-13: 0323988873
DOWNLOAD EBOOKHandbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists
Handbook of Spectrum Auction Design
Author: Martin Bichler
Publisher: Cambridge University Press
Published: 2017-10-26
Total Pages: 935
ISBN-13: 1107135346
DOWNLOAD EBOOKAn international team of experts covers the pros and cons of different auction formats and lessons learned in the field.
Structural Econometrics of Auctions
Author: Matthew L. Gentry
Publisher: Foundations and Trends (R) in Econometrics
Published: 2018-04-26
Total Pages: 244
ISBN-13: 9781680834468
DOWNLOAD EBOOKStructural Econometrics of Auctions summarizes the structural econometric analysis of observational data from auctions.
Markets in Profile
Author: James F. Dalton
Publisher: John Wiley & Sons
Published: 2011-01-11
Total Pages: 224
ISBN-13: 9781118044643
DOWNLOAD EBOOKMarkets in Profile explores the confluence of three disparate philosophical frameworks: the Market Profile, behavioral finance, and neuroeconomics in order to present a unified theory of how markets work. The Market Profile is an ever-evolving, multidimensional graphic that gives visual form to the market's continuing auction process, revealing the myriad underlying dynamics that influence market activity. Behavioral finance posits that investors are driven more by emotional factors and the subjective interpretation of minutia than by "rationality" when making investment decisions. And neuroeconomics is the study of how investor psychology permeates and affects the financial markets. Mr. Dalton explicates the ways in which irrational human behavior influences the market's natural auction process, creating frequently predictable market structure, which results in opportunities for investors to ameliorate risk. The book will improve investors ability to interpret change in markets, enabling better, more confident investment decisions.
Economic Fables
Author: Ariel Rubinstein
Publisher: Open Book Publishers
Published: 2012
Total Pages: 266
ISBN-13: 1906924775
DOWNLOAD EBOOK"I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making social and economic decisions as the opinion of an expert using a model." Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world's foremost economists looks at economic ideas through a personal lens. Together with an introduction to some of the central concepts in modern economic thought, Ariel Rubinstein offers some powerful and entertaining reflections on his childhood, family and career. In doing so, he challenges many of the central tenets of game theory, and sheds light on the role economics can play in society at large. Economic Fables is as thought-provoking for seasoned economists as it is enlightening for newcomers to the field.
Experimental Auctions
Author: Jayson L. Lusk
Publisher: Cambridge University Press
Published: 2007-11-08
Total Pages: 316
ISBN-13: 9780521671248
DOWNLOAD EBOOKEconomists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Mathematics for Econometrics
Author: P.J. Dhrymes
Publisher: Springer Science & Business Media
Published: 2013-04-18
Total Pages: 142
ISBN-13: 1475716915
DOWNLOAD EBOOKThis booklet was begun as an appendix to Introductory Econometrics. As it progressed, requirements of consistency and completeness of coverage seemed to make it inordinately long to serve merely as an appendix, and thus it appears as a work in its own right. Its purpose is not to give rigorous instruction in mathematics. Rather it aims at filling the gaps in the typical student's mathematical training, to the extent relevant for the study of econometrics. Thus, it contains a collection of mathematical results employed at various stages of Introductory Econometrics. More generally, however, it would be a useful adjunct and reference to students of econometrics, no matter what text is being employed. In the vast majority of cases, proofs are provided and there is a modicum of verbal discussion of certain mathematical results, the objective being to reinforce the reader's understanding of the formalities. In certain instances, however, when proofs are too cumbersome, or complex, or when they are too obvious, they are omitted.
Public Technology Procurement and Innovation
Author: Charles Edquist
Publisher: Springer Science & Business Media
Published: 2000
Total Pages: 340
ISBN-13: 9780792386858
DOWNLOAD EBOOKPublic Technology Procurement and Innovation studies public technology procurement as an instrument of innovation policy. In the past few years, public technology procurement has been a relatively neglected topic in the theoretical and research literature on the economics of innovation. Similarly, preoccupation with `supply-side' measures has led policy-makers to avoid making very extensive use of this important `demand-side' instrument. These trends have been especially pronounced in the European Union. There, as this book will argue, existing legislation governing public procurement presents obstacles to the use of public technology procurement as a means of stimulating and supporting technological innovation. Recently, however, there has been a gradual re-awakening of practical interest in such measures among policy-makers in the EU and elsewhere. For these and other related measures, this volume aims to contribute to a serious reconsideration of public technology procurement from the complementary standpoints of innovation theory and innovation policy.
