主题：Nonparametric Identification of First-Price Auction with Unobserved Competition: A Density Discontinuity Framework
主讲人：Emmanuel Guerre (Queen Mary University of London)
主持人：柯书尧 BETVLCTOR伟德官网下载
时间：2023年4月28日（周五）下午15：00-16：30
地点：BETVLCTOR伟德官网下载石牌校区伟德BETVlCTOR1946大楼（中惠楼）102室
摘要
We consider nonparametric identification of independent private value first-price auction models, in which the analyst only observes winning bids. Ourbenchmark model assumes an exogenous number of bidders N. We show that,if the bidders observe N, the resulting discontinuities in the winning bid density can be used to identify the distribution of N. The private value distribution can be nonparametrically identified in a second step. This extends, under testableidentification conditions, to the case where N is a number of potential buyers,who bid with some unknown probability. Identification also holds in presence of additive unobserved heterogeneity drawn from some parametric distributions. A last class of extensions deals with cartels which can change size across auctions due to varying bidder cartel membership. Identification still holds if the econometrician observes winner identities and winning bids, provided a (unknown) bidder is always a cartel member. The cartel participation probabilities of other bidders can also be identified. An application to USFS timber auction data illustrates the usefulness of discontinuities to analyze bidder participation.
主讲人简介
Emmanuel Guerre，Queen Mary University of London经济与金融学院教授。研究领域包括微观计量经济理论、博弈论计量经济学等。研究工作发表于Econometrica、Annals of Statistics、The Review of Economic Studies、Journal of Econometrics等国际经济学与统计学知名期刊。
编辑|麦嘉杰
初审|王国长
审核|郑贤
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