G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10486
DP10486 Reserve Price Effects in Auctions: Estimates from Multiple RD Designs
Lars Nesheim; Imran Rasul
发表日期2015-03-15
出版年2015
语种英语
摘要We present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on auction outcomes. We exploit multiple discontinuities in the relationship between reserve prices and vehicle characteristics to present causal RD estimates of reserve price impacts. We find an increase in reserve price decreases the number of bidders, increases the likelihood the object remains unsold, and increases expected revenue conditional on sale. We then combine these estimates to calibrate the reserve price effect on the auctioneer's ex ante expected revenue. This reveals the auctioneer's reserve price policy to be locally optimal.
主题Industrial Organization
关键词Auctions Regression discontinuity Reserve price
URLhttps://cepr.org/publications/dp10486
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539318
推荐引用方式
GB/T 7714
Lars Nesheim,Imran Rasul. DP10486 Reserve Price Effects in Auctions: Estimates from Multiple RD Designs. 2015.
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