Partial identification and testable restrictions in multi-unit auctions

Published

Journal Article

Bidders' values in discriminatory and uniform-price auctions are not necessarily point-identified under the assumptions of equilibrium bidding and independent private values, but meaningful policy analysis can proceed from bounds on bidder values. This paper provides upper and lower bounds on the set of values that can rationalize a given distribution of bids, under the additional (and standard) assumption of non-increasing marginal values. Novel testable implications of the best response hypothesis are also provided, again under the assumption of non-increasing marginal values. © 2008 Elsevier B.V. All rights reserved.

Full Text

Duke Authors

Cited Authors

  • McAdams, D

Published Date

  • September 1, 2008

Published In

Volume / Issue

  • 146 / 1

Start / End Page

  • 74 - 85

International Standard Serial Number (ISSN)

  • 0304-4076

Digital Object Identifier (DOI)

  • 10.1016/j.jeconom.2008.07.003

Citation Source

  • Scopus