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Identification of the distribution of valuations in an incomplete model of English auctions

Authors: Andrew Chesher and Adam Rosen
Date: 29 June 2015
Type: cemmap Working Paper, CWP30/15
DOI: 10.1920/wp.cem.2015.3015

Abstract

An incomplete model of English auctions with symmetric independent private values, similar to the one studied in Haile and Tamer (2003), is shown to fall in the class of Generalized Instrumental Variable Models introduced in Chesher and Rosen (2014). A characterization of the sharp identified set for the distribution of valuations is thereby obtained and shown to refine the bounds available until now.

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