Inference with an Incomplete Model of English Auctions

@inproceedings{Haile2000InferenceWA,
  title={Inference with an Incomplete Model of English Auctions},
  author={Philip A. Haile and Elie Tamer},
  year={2000}
}
Standard models of English auctions abstract from actual practice by assuming that bidders continuously affirm their willingness to pay as the price rises exogenously. We show that one need not rely on these models to make useful inferences on the latent demand structure at private value English auctions. Weak implications of rational bidding provide sufficient structure to nonparametrically bound the distribution of bidder valuations and the optimal reserve price, based on observed bids. If… CONTINUE READING

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