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

Published on 29 June 2015

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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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.

    Authors

    Andrew Chesher
    Andrew Chesher

    Research Fellow University College London

    Andrew is the Director of the ESRC Centre for Microdata Methods and Practice (cemmap) and Professor of Economics and Economic Measurement at UCL.

    Adam Rosen
    Adam Rosen

    Research Fellow Duke University

    Adam is a Research Fellow associated with the Cemmap at the IFS and UCL and an Associate Professor of Economics at Duke University.

    Working Paper details

    DOI
    10.1920/wp.cem.2015.3015
    Publisher
    Institute for Fiscal Studies

    Suggested citation

    Chesher, A and Rosen, A. (2015). Identification of the distribution of valuations in an incomplete model of English auctions. London: Institute for Fiscal Studies. Available at: https://ifs.org.uk/publications/identification-distribution-valuations-incomplete-model-english-auctions (accessed: 19 June 2025).

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