Pasha Andreyanov, Grigory Franguridi
arXiv 25 Jun 2021 · Econometrics
arXiv:2106.13856 · PDF · DOI · OpenAlex · Extracted main text
In a classical model of the first-price sealed-bid auction with independent private values, we develop nonparametric estimators for several policy-relevant targets, such as the bidder's surplus and auctioneer's revenue under counterfactual reserve prices. Motivated by the linearity of these targets in the quantile function of bidders' values, we propose an estimator of the latter and derive its Bahadur-Kiefer expansion. This makes it possible to construct uniform confidence bands and test complex hypotheses about the auction design. Using the data on U.S. Forest Service timber auctions, we test whether setting zero reserve prices in these auctions was revenue maximizing.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Guerre, E., I. Perrigne, and Q. Vuong (2000) Optimal nonparametric estimation of first-price auctions | 0.928 | 4 | 3 | 100% |
| 2 | Zincenko, F (2024) Estimation and inference of seller’s expected revenue in first-price auctions | 0.811 | 4 | 2 | 100% |
| 3 | Krishna, V (2009) Auction Theory | 0.644 | 4 | 1 | 100% |
| 4 | Athey, S. and P. A. Haile (2007) Nonparametric approaches to auctions | 0.644 | 2 | 2 | 100% |
| 5 | Jones, M. C (1992) Estimating densities, quantiles, quantile densities and density quantiles | 0.644 | 2 | 2 | 100% |
| 6 | Li, T., I. Perrigne, and Q. Vuong (2000) Conditionally independent private information in OCS wildcat auctions | 0.644 | 2 | 2 | 100% |
| 7 | Luo, Y. and Y. Wan (2018) Integrated-quantile-based estimation for first-price auction models | 0.644 | 2 | 2 | 100% |
| 8 | Rio, E (1994) Local invariance principles and their application to density estimation | 0.585 | 3 | 1 | 100% |
| 9 | Chernozhukov, V., D. Chetverikov, and K. Kato (2014) Gaussian approximation of suprema of empirical processes | 0.572 | 16 | 4 | 19% |
| 10 | Bloch, D. A. and J. L. Gastwirth (1968) On a simple estimate of the reciprocal of the density function | 0.511 | 2 | 1 | 100% |
Showing the top 10 of 50 scored citations.
arXiv econ.EM papers that cite this one, ranked by how heavily they lean on it.
| Citing paper | Intensity | Mentions | Sections | |
|---|---|---|---|---|
| 1 | Bias correction and uniform inference for the quantile density function | 0.000 | 2 | 2 |