U. Song

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In this paper, I present new identification results and proposes an estimation method for an eBay auction model with an application. A key difficulty with data from eBay auctions is the fact that the number of potential bidders willing to pay the reserve price is not observable and the number of potential bidders varies auction by auction. While this(More)
Wholesale used-car markets have widely utilized ascending auctions for trading dealers'in-ventories. To study the latent demand structure of these markets, one needs to recover the underlying valuations of dealers from the bidding data observed at the auctions. Exploiting a new, rich data set on a wholesale used-car auction, we estimate the distribution of(More)
The paper estimates the demand for new digital cameras sold in eBay auctions. EBay data seems to offer significant advantages over traditional transactions data for estimating demand for differentiated products. However , there are a number of concerns including censoring bias and the interpretation of the bidding behavior. This paper presents results from(More)
This paper presents assumptions and identification results for eBay type auctions. These results are for private value auctions covering three major issues; censoring bias, auction heterogeneity and dynamic bidding. The first section of the paper presents two identification results for second price open call auctions with private values and unobserved(More)
Using bid data from new and used Chevrolet Corvettes sold on eBay, this paper empirically tests Akerlof's (1970) hypothesis that the used car market is characterized by low quality and informational problems. The hypothesis states that the used market has a higher proportion of low quality cars than the new market and buyers account for the difference by(More)
In this paper, I investigate the Samuelson (1985) low-price auction model with entry costs. The model's equilibrium implies that the distribution of bids is truncated at the threshold for participation. I use the model to estimate the cost of participation in Michigan highway procurement auctions. The null hypothesis of zero entry costs is rejected. Using(More)
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