Using all bids in parametric estimation of first-price auctions

Tong Li; Quang Vuong

doi:10.1016/S0165-1765(97)00089-X

Using all bids in parametric estimation of first-price auctions

Tong Li, Quang Vuong

Research output: Contribution to journal › Article › peer-review

Abstract

Recently Laffont et al. (1995) have proposed an SNLLS estimator using winning bids only. Here, we derive a relationship between the means of observed bids and private values to propose an SNLLS estimator using all bids in first-price auctions.

Original language	English (US)
Pages (from-to)	321-325
Number of pages	5
Journal	Economics Letters
Volume	55
Issue number	3
DOIs	https://doi.org/10.1016/S0165-1765(97)00089-X
State	Published - Sep 12 1997

Keywords

D44
First-price auctions
Simulated nonlinear least-squares

ASJC Scopus subject areas

Finance
Economics and Econometrics

Access to Document

10.1016/S0165-1765(97)00089-X

Cite this

@article{bfb4f2e3fd18474bb2aa381ce5264b60,

title = "Using all bids in parametric estimation of first-price auctions",

abstract = "Recently Laffont et al. (1995) have proposed an SNLLS estimator using winning bids only. Here, we derive a relationship between the means of observed bids and private values to propose an SNLLS estimator using all bids in first-price auctions.",

keywords = "D44, First-price auctions, Simulated nonlinear least-squares",

author = "Tong Li and Quang Vuong",

note = "Funding Information: Financial support was provided by the National Science Foundation under Grant SBR-9631212. The first author thanks INRA and IDEI for financial support and hospitality during completion of this paper.",

year = "1997",

month = sep,

day = "12",

doi = "10.1016/S0165-1765(97)00089-X",

language = "English (US)",

volume = "55",

pages = "321--325",

journal = "Economics Letters",

issn = "0165-1765",

publisher = "Elsevier B.V.",

number = "3",

}

TY - JOUR

T1 - Using all bids in parametric estimation of first-price auctions

AU - Li, Tong

AU - Vuong, Quang

N1 - Funding Information: Financial support was provided by the National Science Foundation under Grant SBR-9631212. The first author thanks INRA and IDEI for financial support and hospitality during completion of this paper.

PY - 1997/9/12

Y1 - 1997/9/12

N2 - Recently Laffont et al. (1995) have proposed an SNLLS estimator using winning bids only. Here, we derive a relationship between the means of observed bids and private values to propose an SNLLS estimator using all bids in first-price auctions.

AB - Recently Laffont et al. (1995) have proposed an SNLLS estimator using winning bids only. Here, we derive a relationship between the means of observed bids and private values to propose an SNLLS estimator using all bids in first-price auctions.

KW - D44

KW - First-price auctions

KW - Simulated nonlinear least-squares

UR - http://www.scopus.com/inward/record.url?scp=0031285261&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0031285261&partnerID=8YFLogxK

U2 - 10.1016/S0165-1765(97)00089-X

DO - 10.1016/S0165-1765(97)00089-X

M3 - Article

AN - SCOPUS:0031285261

SN - 0165-1765

VL - 55

SP - 321

EP - 325

JO - Economics Letters

JF - Economics Letters

IS - 3

ER -

Using all bids in parametric estimation of first-price auctions

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this