| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10486 |
| 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 |
| URL | https://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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