Chapter 32 An Empirical Perspective on Auctions

Ken Hendricks*, Robert H. Porter

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter

29 Scopus citations

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 languageEnglish (US)
Title of host publicationHandbook of Industrial Organization
EditorsM. Armstrong, R. Porter
Pages2073-2143
Number of pages71
DOIs
StatePublished - 2007

Publication series

NameHandbook of Industrial Organization
Volume3
ISSN (Print)1573-448X

Keywords

  • Auctions
  • Bid rigging
  • Bidding
  • Collusion
  • Estimation
  • Identification

ASJC Scopus subject areas

  • Industrial relations
  • Finance
  • Economics and Econometrics
  • Strategy and Management

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