This class will consider the empirical analysis of auction markets and bidding. Both positive and normative issues will be discussed. The former includes the analysis of equilibrium bidding behavior, and the latter optimal auction design issues. The emphasis will be on the estimation and testing of game theoretic models.
The class will begin by covering the material in the 2007 survey by Ken Hendricks and Rob Porter in Volume 3 of the Handbook of Industrial Organization, and then describe recent developments in the field and open issues.