Auctions with ex post uncertainty

Yao Luo, Isabelle Perrigne, Quang Vuong

    Research output: Contribution to journalArticlepeer-review


    Uncertainty about ex post realized values is an inherent component in many auction environments. In this article, we develop a structural framework to analyze auction data subject to ex post uncertainty as a pure risk. We consider a low-price sealed-bid auction model with heterogeneous bidders' preferences and ex post uncertainty. The uncertainty can be common to all bidders or idiosyncratic. We derive the model restrictions and study nonparametric and semiparametric identification of the model primitives under exogenous and endogenous participation. We then develop multistep nonparametric and semiparametric estimation procedures in both cases.

    Original languageEnglish (US)
    Pages (from-to)574-593
    Number of pages20
    JournalRAND Journal of Economics
    Issue number3
    StatePublished - Sep 1 2018

    ASJC Scopus subject areas

    • Economics and Econometrics


    Dive into the research topics of 'Auctions with ex post uncertainty'. Together they form a unique fingerprint.

    Cite this