Measurement of excess bidding in auctions

Angeliki Ferona and Mike Tsionas

Economics Letters, 2012, vol. 116, issue 3, 377-380

Abstract: This paper provides a link between the structural approach of econometrics of auctions with the stochastic frontier literature in an effort to model excess bidding behaviour. The new technique is applied to timber auction data. The results suggest that both systematic overbidding and underbidding components are important.

Keywords: Auctions; Stochastic Frontiers; Excess bidding (search for similar items in EconPapers)
JEL-codes: C2 C7 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:3:p:377-380

DOI: 10.1016/j.econlet.2012.04.025

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