Abstract
We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical practice, and public policy, and a discussion of outstanding issues. We describe some basic concepts, to highlight some strengths and weaknesses of the literature, and so indicate where further research may be warranted. We discuss identification and estimation issues, with an emphasis on the connection between theory and empirical practice. We also discuss both structural and reduced form empirical approaches.
| Original language | English (US) |
|---|---|
| Title of host publication | Handbook of Industrial Organization |
| Editors | M. Armstrong, R. Porter |
| Pages | 2073-2143 |
| Number of pages | 71 |
| DOIs | |
| State | Published - 2007 |
Publication series
| Name | Handbook of Industrial Organization |
|---|---|
| Volume | 3 |
| ISSN (Print) | 1573-448X |
Funding
The research was supported by the National Natural Science Foundation of China (Grant No. 71301067, and Grant No. 61573266), and the Natural Science Foundation of JiangXi Province (Grant No. 20142BAB217015). The research was also supported by the National Social Science Foundation of China (Grant No. 12CTJ012), the National Nature Science Foundation of China (Grant No. 61403290, and Grant No. 11561047), the Science and Technology Project of Jiangxi Provincial Department of Education (No.GJJ151110), and the Foundation of Baoji University of Arts and Sciences (Grant No. ZK15081).
Keywords
- Auctions
- Bid rigging
- Bidding
- Collusion
- Estimation
- Identification
ASJC Scopus subject areas
- Industrial relations
- Finance
- Economics and Econometrics
- Strategy and Management