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Nonparametric Estimation of Asymmetric First Price Auctions: A Simplified Approach
Zhang, Bin; Guler, Kemal
HPL-2002-86R1
Keyword(s): affiliated private values; first price auctions; asymmetric auctions; structural econometrics; nonparametric estimation
Abstract: We present an approach to non-parametric estimation of pseudo-values in asymmetric affiliated private values (APV) models for first-price auctions that eliminates the 'curse of dimensionality.' We show that pseudo- values can be estimated by using two-dimensional functions of bids for APV models regardless of the form asymmetry.
7 Pages
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