| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11376 |
| DP11376 Correcting for Sample Selection From Competitive Bidding, with an Application to Estimating the Effect of Wages on Performance | |
| Laurent Lamy; Manasa Patnam | |
| 发表日期 | 2016-07-06 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | This paper proposes a method to estimate the relationship between the price of a good sold at auction, and a post-auction outcome which is observed among auction winners. To account for both the endogeneity of the auction price and sample selection, we develop a control function approach based on the non-parametric identification of an auction model. In our application we estimate a performance equation using unique field data on wages earned by cricket players and their game-specific performances. Our empirical strategy benefits from the fact that wages are determined through randomly ordered sequential English auctions: the order in which players are sold acts as an exogenous shifter of wages. We find that the positive correlation between wages and performance comes (almost) exclusively from the selection and endogeneity effects. |
| 主题 | Industrial Organization ; Labour Economics |
| 关键词 | Sample selection Structural econometrics of auctions Wage-performance elasticity |
| URL | https://cepr.org/publications/dp11376 |
| 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/540190 |
| 推荐引用方式 GB/T 7714 | Laurent Lamy,Manasa Patnam. DP11376 Correcting for Sample Selection From Competitive Bidding, with an Application to Estimating the Effect of Wages on Performance. 2016. |
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