Econ Papers Daily / 期刊论文
首价拍卖中未观测竞争的半参数识别：密度断点框架
Nonparametric identification of first-price auction with unobserved competition: A density discontinuity framework
摘要
We consider nonparametric identification of independent private value first-price auction models, in which the analyst only observes winning bids. Our benchmark model assumes an exogenous number of bidders N. We show that, if the bidders observe N, the resulting discontinuities in the winning bid density can be used to identify the distribution of N. The private value distribution can be nonparametrically identified in a second step. This extends, under testable identification conditions, to the case where N is a number of potential buyers, who bid with some unknown probability. Identification also holds in presence of additive unobserved heterogeneity drawn from some parametric distributions.
中文摘要
我们考虑独立私人价值第一价格拍卖模型的非参数识别问题，其中分析者仅观察到中标价格。我们的基准模型假设投标人数N为外生给定。我们证明，如果投标人观察到N，则中标价格密度中由此产生的不连续性可用于识别N的分布。私人价值分布可在第二步中非参数识别。在可检验的识别条件下，这一结论可推广至N为潜在买家数量、且这些买家以某一未知概率参与投标的情形。在存在来自某些参数分布的加性未观测异质性时，识别仍然成立。