{"title":"What Model for Entry in First-Price Auctions? A Nonparametric Approach","authors":"Vadim Marmer, Artyom Shneyerov, P. Xu","doi":"10.2139/ssrn.1628367","DOIUrl":null,"url":null,"abstract":"We develop a nonparametric approach that allows for discrimination among alternative models of entry in first-price auctions. Three models of entry are considered: those of Levin and Smith (1994), Samuelson (1985), and a new model in which the information received at the entry stage is imperfectly correlated with bidder valuations. We derive testable restrictions of these models based on how the pro-competitive selection effect shifts bidder valuation quantiles in response to an increase in the number of potential bidders.","PeriodicalId":169574,"journal":{"name":"ERN: Entry & Exit (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2010-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"105","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Entry & Exit (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.1628367","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 105
Abstract
We develop a nonparametric approach that allows for discrimination among alternative models of entry in first-price auctions. Three models of entry are considered: those of Levin and Smith (1994), Samuelson (1985), and a new model in which the information received at the entry stage is imperfectly correlated with bidder valuations. We derive testable restrictions of these models based on how the pro-competitive selection effect shifts bidder valuation quantiles in response to an increase in the number of potential bidders.
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