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Likelihood Ratio Tests for Model Selection and Non-Nested Hypotheses
Using the Kullback-Leibler information criterion to measure the closeness of a model to the truth, the author proposes new likelihood-ratio-based statistics for testing the null hypothesis that theExpand
Optimal Nonparametric Estimation of First-price Auctions
This paper proposes a general approach and a computationally convenient estimation procedure for the structural analysis of auctioni data. Considering first-price sealed-bid auction models within theExpand
Limited Information Estimators and Exogeneity Tests for Simultaneous Probit Models
A two-step maximum likelihood procedure is proposed for estimating simultaneous probit models and is compared to alternative limited information estimators. Conditions under which each estimatorExpand
Model Selection Tests for Nonlinear Dynamic Models
This paper generalizes Vuong (1989) asymptotically normal tests for model selection in several important directions. First, it allows for incompletely parametrized models such as econometric modelsExpand
Nonparametric Identification of Risk Aversion in First‐Price Auctions Under Exclusion Restrictions
This paper studies the nonparametric identification of the first-price auction model with risk averse bidders within the private value paradigm. First, we show that the benchmark model isExpand
Asymmetry in first-price auctions with affiliated private values
Collusion and heterogeneity across firms may introduce asymmetry in bidding games. A major difficulty in asymmetric auctions is that the Bayesian Nash equilibrium strategies are solutions of anExpand
ECONOMETRICS OF FIRST-PRICE AUCTIONS
This paper proposes a convenient estimation method for the empirical study of auction models. The authors focus on first-price sealed-bid and descending auctions within the private value paradigm.Expand
Semiparametric Estimation of First-Price Auctions with Risk Averse Bidders*
In view of the non-identification of the first-price auction model with risk-averse bidders, this paper proposes some parametric identifying restrictions and a semiparametric estimator for the riskExpand
Simultaneous Equations Models for Dummy Endogenous Variables: A Game Theoretic Formulation with an Application to Labor Force Participation
A game theoretic approach for formulating simultaneous equations models for dummy endogenous variables is proposed and applied to a study of husband/wife labor force participation. A distinctiveExpand
Econometric Analysisof Collusive Behaviorin a Soft‐Drink Market
This paper proposes an empirical methodology for studying various (implicit or explicit) collusive behavior on two strategic variables, which are price and advertising, in a differentiated marketExpand
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