| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Comparing Open and Sealed Bid Auctions: Theory and Evidence from Timber Auctions | |
| Jonathan Levin; Susan Athey; Enrique Seira | |
| 发表日期 | 2004 |
| 出处 | Economy and Society |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more small bidders, shift the allocation towards these bidders, and can also generate higher revenue. We propose a model, which extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account for these qualitative effects of auction format. We then calibrate the model using parameters estimated from the data and show that the model can explain the quantitative effects as well. Finally, we use the model to provide an assessment of bidder competitiveness, which has important consequences for auction choice. |
| 特色分类 | Q23,D44 |
| 关键词 | Auctions,Timber |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/comparing-open-and-sealed-bid-auctions-theory-and-evidence-from-timber-auctions/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117093 |
| 推荐引用方式 GB/T 7714 | Jonathan Levin,Susan Athey,Enrique Seira. Comparing Open and Sealed Bid Auctions: Theory and Evidence from Timber Auctions. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2004-142.pdf（3364KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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