An Empirical Perspective on Auctions

  title={An Empirical Perspective on Auctions},
  author={Ken Hendricks},
We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical practice, and public policy, and a discussion of outstanding issues. We describe some basic concepts, to highlight some strengths and weaknesses of the literature, and so indicate where further research may be warranted. We discuss identi…cation and estimation issues, with an emphasis on the connection between theory and empirical practice. We also discuss both structural and… CONTINUE READING
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