A Bayesian approach to the econometrics of first-price auctions
(1998)
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- Authors
- Abstract
- We propose a Bayesian approach to empirical auction models. We argue that the Bayesian paradigm is more suitable to the study of empirical strategic models than its frequentist counterpart. We perform an estimation of our model on an auction of hand-made miniature sculptures organized by Christie's in London.
- Affiliations
Citations
Albano, G.-L., & Jouneau, F. (1998). A Bayesian approach to the econometrics of first-price auctions (CORE Discussion Papers 1998/31).