Estimation of an auction model with strategic uncertainty
I propose a model for analysing bidding under strategic uncertainty. Bidders do not know the entire distribution of the bids of the other bidders. Instead, they only know the first M moments of the bid distribution. I estimate the model with experimental data. Preliminary analysis suggests that my decision model with knowledge of only the first moment predicts the bidders’ values better than an equilibrium-based model with knowledge of the entire distribution.
19 February 2020, 17:00 (Wednesday, 5th week, Hilary 2020)
Nuffield College, New Road OX1 1NF
Conference Room (L Staircase)
Bernhard Kasberger (University of Oxford)
Department of Economics
Members of the University only