| Autor: |
Grundl, Serafin, Yu Zhu |
| Předmět: |
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| Zdroj: |
Working Papers -- U.S. Federal Reserve Board's International Finance Discussion Papers; Jul2015, p1-44, 44p |
| Abstrakt: |
This paper exploits variation in the number of bidders to separately identify the valuation distribution and the bidders' belief about the valuation distribution in first-price auctions with independent private values. By exploiting variation in auction volume, the result is extended to environments with risk averse bidders. In an illustrative application we fail to reject the null hypothesis of correct beliefs. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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