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Winner's curse, reserve prices and endogenous entry: Empirical insights from eBay auctions

[PDF] from psu.edu
P Bajari… - 2000 - papers.ssrn.com
Abstract: Internet auctions have recently gained widespread popularity and are one of the
most successful forms of electronic commerce. We examine a dataset of eBay coin auctions
to explore features of online bidding and selling behavior. We find that profit margins for ...
Cited by 822 - Related articles - BL Direct - All 51 versions

Incentives versus transaction costs: A theory of procurement contracts

[PDF] from edegan.com
P Bajari… - RAND Journal of Economics, 2001 - JSTOR
Inspired by facts from the private-sector construction industry, we develop a model that
explains many stylized facts of procurement contracts. The buyer in our model incurs a cost
of providing a comprehensive design and is faced with a tradeoff between providing ...
Cited by 634 - Related articles - Get it from MIT Libraries - Library Search - BL Direct - All 27 versions

Estimating dynamic models of imperfect competition

[PDF] from aguirregabiria.org
Full text - MIT Libraries
P Bajari, CL Benkard… - Econometrica, 2007 - Wiley Online Library
We describe a two-step algorithm for estimating dynamic games under the assumption that
behavior is consistent with Markov perfect equilibrium. In the first step, the policy functions
and the law of motion for the state variables are estimated. In the second step, the ...
Cited by 386 - Related articles - Library Search - BL Direct - All 49 versions

Economic insights from internet auctions: A survey

[PDF] from umn.edu
P Bajari… - 2003 - nber.org
This paper surveys recent studies of Internet auctions. Four main areas of research are
summarized. First, economists have documented strategic bidding in these markets and
attempted to understand why sniping, or bidding at the last second, occurs. Second, some ...
Cited by 367 - Related articles - Library Search - BL Direct - All 29 versions

Demand estimation with heterogeneous consumers and unobserved product characteristics: A hedonic approach

[PDF] from yale.edu
P Bajari… - 2001 - nber.org
We study the identification and estimation of preferences in hedonic discrete choice models
of demand for differentiated products. In the hedonic discrete choice model, products are
represented as a finite dimensional bundle of characteristics, and consumers maximize ...
Cited by 216 - Related articles - Library Search - BL Direct - All 49 versions

Auctions versus negotiations in procurement: an empirical analysis

[PDF] from rasmusen.org
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P Bajari, R McMillan… - Journal of Law, Economics, …, 2009 - Oxford Univ Press
Abstract Should the buyer of a customized good use competitive bidding or negotiation to
select a contractor? To shed light on this question, we consider several possible
determinants that may influence the choice of auctions versus negotiations. We then ...
Cited by 206 - Related articles - Library Search - BL Direct - All 55 versions

Deciding between competition and collusion

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P Bajari… - Review of Economics and Statistics, 2003 - MIT Press
We develop an approach to identify and test for bid rigging in procurement auctions. First,
we introduce a general auction model with asymmetric bidders. Second, we study the
problem of identification in our model. We state a set of conditions that are both necessary ...
Cited by 179 - Related articles - All 29 versions

[PDF] Estimating housing demand with an application to explaining racial segregation in cities

[PDF] from amstat.org
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P Bajari… - Journal of Business and Economic Statistics, 2005 - ASA
We present a three-stage, nonparametric estimation procedure to recover willingness to pay
for housing attributes. In the first stage we estimate a nonparametric hedonic home price
function. In the second stage we recover each consumer's taste parameters for product ...
Cited by 138 - Related articles - View as HTML - Library Search - BL Direct - All 24 versions

Identification and estimation of a discrete game of complete information

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P Bajari, H Hong… - Econometrica, 2010 - Wiley Online Library
We discuss the identification and estimation of discrete games of complete information.
Following Bresnahan and Reiss (1990, 1991), a discrete game is a generalization of a
standard discrete choice model where utility depends on the actions of other players. ...
Cited by 121 - Related articles - Library Search - BL Direct - All 36 versions

Bidding for incomplete contracts: An empirical analysis

[PDF] from umn.edu
P Bajari, S Houghton… - 2006 - nber.org
Procurement contracts are often incomplete because the initial plans and specifications are
changed and refined after the contract is awarded to the lowest bidder. This results in a final
cost to the buyer that differs from the low bid, and may also involve significant adaptation ...
Cited by 117 - Related articles - Library Search - BL Direct - All 46 versions

Are structural estimates of auction models reasonable? Evidence from experimental data

[PDF] from umn.edu
P Bajari… - 2003 - nber.org
Recently, economists have developed methods for structural estimation of auction models.
Many researchers object to these methods because they find the rationality assumptions
used in these models to be implausible. In this paper, we explore whether structural ...
Cited by 104 - Related articles - Library Search - BL Direct - All 24 versions

Estimating static models of strategic interaction

[PDF] from princeton.edu
P Bajari, H Hong, J Krainer… - 2006 - nber.org
We propose a method for estimating static games of incomplete information. A static game is
a generalization of a discrete choice model, such as a multinomial logit or probit, which
allows the actions of a group of agents to be interdependent. Unlike most earlier work, the ...
Cited by 75 - Related articles - Library Search - BL Direct - All 53 versions

Comparing competition and collusion: a numerical approach

[PDF] from dufe.edu.cn
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P Bajari - Economic Theory, 2001 - Springer
Summary. Collusion is a serious problem in many procurement auctions. In this research, I
study a model of first price sealed bid procurement auctions with asymmetric bidders. I
demonstrate that the equilibrium to the model is unique and describe three algorithms that ...
Cited by 74 - Related articles - BL Direct - All 16 versions

Detecting collusion in procurement auctions

[PDF] from stanford.edu
P Bajari… - Antitrust LJ, 2002 - HeinOnline
Collusion is an agreement among a group of firms, called a cartel, designed to limit
competition among the participants. If all firms in the cartel follow the agreement, buyers will
face higher prices, giving the cartel members profits above the normal competitive level. ...
Cited by 64 - Related articles - BL Direct - All 15 versions

An empirical model of subprime mortgage default from 2000 to 2007

[PDF] from loanvaluegroup.com
P Bajari, CS Chu… - 2008 - nber.org
The turmoil that started with increased defaults in the subprime mortgage market has
generated instability in the financial system around the world. To better understand the root
causes of this financial instability, we quantify the relative importance of various drivers ...
Cited by 53 - Related articles - Library Search - All 14 versions

House prices and consumer welfare

[PDF] from yale.edu
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P Bajari, CL Benkard… - Journal of Urban Economics, 2005 - Elsevier
We develop a new approach to measuring changes in consumer welfare due to changes in
the price of owner-occupied housing. In our approach, an agent's welfare adjustment is
defined as the transfer required to keep expected discounted utility constant given a ...
Cited by 46 - Related articles - Library Search - BL Direct - All 32 versions

[PDF] Cyberspace auctions and pricing issues: A review of empirical findings

[PDF] from uni-magdeburg.de
P Bajari… - preprint, Chicago GSB, 2002 - ww.uni-magdeburg.de
Abstract This article surveys empirical findings from recent studies of Internet auctions and
summarizes the economic insights gained from these findings. The main questions
addressed in this article are: What are the rules of the game used in online auctions and ...
Cited by 42 - Related articles - View as HTML - All 19 versions

[CITATION] The First Price Sealed Bid Auction with Asymmetric Bidders: Theory and Applications

P Bajari - University of Minnesota, unpublished Ph. D. …, 1997 - en.scientificcommons.org
Cited by 38 - Related articles - Cached

Semiparametric estimation of a dynamic game of incomplete information

[PDF] from gsu.edu
P Bajari… - 2006 - nber.org
Recently, empirical industrial organization economists have proposed estimators for
dynamic games of incomplete information. In these models, agents choose from a finite
number actions and maximize expected discounted utility in a Markov perfect equilibrium. ...
Cited by 36 - Related articles - Library Search - BL Direct - All 25 versions

Procurement contracting with time incentives: theory and evidence

[PDF] from harvard.edu
P Bajari… - 2009 - nber.org
In public sector procurement, social welfare often depends on the time taken to complete the
contract. A leading example is highway construction, where slow completion times inflict a
negative externality on commuters. Recently, highway departments have introduced ...
Cited by 35 - Related articles - Library Search - All 26 versions

Moral hazard, adverse selection and health expenditures: A semiparametric analysis

[PDF] from unisg.ch
P Bajari, H Hong… - 2006 - nber.org
Theoretical models predict asymmetric information in health insurance markets may
generate inefficient outcomes due to adverse selection and moral hazard. However,
previous empirical research has found it difficult to disentangle adverse selection from ...
Cited by 36 - Related articles - Library Search - BL Direct - All 17 versions

[BOOK] Discrete choice models as structural models of demand: Some economic implications of common approaches

[PDF] from stanford.edu
P Bajari, CL Benkard… - 2001 - gsbapps.stanford.edu
Abstract We derive some theoretical economic properties of standard discrete choice
econometric models that we believe are undesirable if the models are to be used as
structural models of demand. We show that many standard models have the following ...
Cited by 34 - Related articles - View as HTML - Get it from MIT Libraries - Library Search - All 18 versions

Evaluating wireless carrier consolidation using semiparametric demand estimation

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P Bajari, JT Fox… - Quantitative Marketing and Economics, 2008 - Springer
Abstract The US mobile phone service industry has dramatically consolidated over the last
two decades. One justification for consolidation is that merged firms can provide consumers
with larger coverage areas at lower costs. We estimate the willingness to pay for national ...
Cited by 26 - Related articles - Library Search - BL Direct - All 24 versions

Estimating Static Models of Strategic Interactions

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P Bajari, H Hong, J Krainer… - Journal of Business and …, 2010 - Taylor & Francis
We study the estimation of static games of incomplete information with multiple equilibria. A
static game is a generalization of a discrete choice model, such as a multinomial logit or
probit, which allows the actions of a group of agents to be interdependent. While the ...
Cited by 28 - Related articles - All 7 versions

[CITATION] Econometrics of the first price auction with asymmetric bidders

P Bajari - manuscript, Stanford University, 1998
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Linear regression estimation of discrete choice models with nonparametric distributions of random coefficients

[PDF] from umn.edu
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P Bajari, JT Fox… - The American economic review, 2007 - JSTOR
In a discrete choice demand model, consumer i chooses product j out of the set J if ui, j> ui, k
Vk= 1,...., J, k# j. A standard setup has a vector of D characteristics xi, j for product j, and
utility is parametrized as ui, j= x', j3+ Eij, where. 8 is a vector of parameters to estimate that ...
Cited by 24 - Related articles - BL Direct - All 18 versions

Measuring the efficiency of an FCC spectrum auction

[PDF] from uchicago.edu
P Bajari… - 2005 - nber.org
FCC spectrum auctions sell licenses to provide mobile phone service in designated
geographic territories. We propose a method to structurally estimate the deterministic
component of bidder valuations and apply it to the 1995–1996 C-block auction. We base ...
Cited by 19 - Related articles - All 33 versions

The random coefficients logit model is identified

[PDF] from bcrp.gob.pe
P Bajari, J Fox, SP Ryan - 2009 - nber.org
The random coefficients, multinomial choice logit model has been widely used in empirical
choice analysis for the last 30 years. We are the first to prove that the distribution of random
coefficients in this model is nonparametrically identified. Our approach exploits the ...
Cited by 19 - Related articles - Library Search - All 16 versions

[PDF] Hedonic price indexes with unobserved product characteristics, and application to personal computers

[PDF] from amstat.org
Full text - MIT Libraries
CL Benkard… - Journal of Business and Economic Statistics, 2005 - ASA
We show that hedonic price indexes may be biased when not all product characteristics are
observed. We derive two primary sources of bias. The first source is a classical selection
problem that arises due to changes over time in the values of unobserved characteristics. ...
Cited by 19 - Related articles - View as HTML - All 12 versions

[PDF] Econometrics of sealed bid auctions

[PDF] from umn.edu
P Bajari - Proceedings of the Business and Economic statistics …, 1998 - econ.umn.edu
Recent empirical and anecdotal evidence suggests that different auction rules generate
important differences in bidding behavior. Milgrom (1996) compares auctions for the sale of
the radio spectrum held in the United States, New Zealand and Australia. The Australian ...
Cited by 18 - Related articles - View as HTML - All 10 versions

[PDF] Complementarities and collusion in an FCC spectrum auction

[PDF] from nber.org
P Bajari… - Ann Arbor, 2005 - nber.org
ABSTRACT We empirically study bidding in the C Block of the US mobile phone spectrum
auctions. Spectrum auctions are conducted using a simultaneous ascending auction design
that allows bidders to assemble packages of licenses with geographic complementarities. ...
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Auction design and tacit collusion in FCC spectrum auctions

[PDF] from mysmu.edu
Full text - MIT Libraries
P Bajari… - Information Economics and Policy, 2009 - Elsevier
The Federal Communications Commission (FCC) has used auctions to award spectrum
since 1994. During this time period, the FCC has experimented with a variety of auctions
rules including click box bidding and anonymous bidding. These rule changes make the ...
Cited by 17 - Related articles - Library Search - All 15 versions

[PDF] Incentives and award procedure: competitive tendering vs. negotiations in procurement

[PDF] from umn.edu
S Tadelis… - Handbook of procurement, 2006 - econ.umn.edu
Abstract Should the buyer of a customized good use competitive bidding or negotiation to
select a contractor? To shed light on this question, we offer a framework that first describes
the buyer's choice of contracts, and then links this choice to the selection of competitive ...
Cited by 16 - Related articles - View as HTML - All 3 versions

Theory-driven choice models

[PDF] from psu.edu
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T Erdem, K Srinivasan, W Amaldoss, P Bajari… - Marketing Letters, 2005 - Springer
Abstract We explore issues in theory-driven choice modeling by focusing on partial-
equilibrium models of dynamic structural demand with forward-looking decision-makers, full
equilibrium models that integrate the supply side, integration of bounded rationality in ...
Cited by 15 - Related articles - BL Direct - All 19 versions

[PDF] Competition versus collusion in procurement auctions: identification and testing

[PDF] from dufe.edu.cn
P Bajari… - 2001 - time.dufe.edu.cn
Abstract In this research, we develop an approach to the problem of identification and testing
for bid-rigging in procurement auctions that tightly integrates economic theory and
econometric practice. First, we introduce a general auction model with asymmetric bidders ...
Cited by 17 - Related articles - View as HTML - Get it from MIT Libraries - All 6 versions

[PDF] Nonparametric and semiparametric analysis of a dynamic game model

[PDF] from virginia.edu
P Bajari, V Chernozhukov, H Hong… - Manuscript, University …, 2007 - people.virginia.edu
Game theory has had a profound effect on microeconomic theory and theoretical industrial
organization in particular. Also, game theory has had an important impact on economic
policy, especially in antitrust and regulation. It is therefore desirable to have empirical ...
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[PDF] Why do Blacks live in the cities and Whites live in the suburbs

[PDF] from stanford.edu
P Bajari… - Unpublished Manuscript. March, 2001 - www-siepr.stanford.edu
Abstract This paper estimates a discrete choice model of housing product demand to study
the causes of black urbanization. Our estimation strategy incorporates that there are
unobserved product attributes which are correlated with observed product attributes. We ...
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A simple nonparametric estimator for the distribution of random coefficients

[PDF] from umich.edu
P Bajari, JT Fox, SP Ryan - 2009 - nber.org
We propose a simple nonparametric mixtures estimator for recovering the joint distribution of
parameter heterogeneity in economic models, such as the random coefficients logit. The
estimator is based on linear regression subject to linear inequality constraints, and is ...
Cited by 12 - Related articles - Library Search - All 15 versions

Hedonic Price Indexes with Unobserved Product Characteristics, and Application to PC's

[PDF] from stanford.edu
CL Benkard… - 2003 - nber.org
We show that hedonic price indexes may be biased when not all product characteristics are
observed. We derive two primary sources of bias. The first is a classical selection problem
that arises due to changes over time in the values of unobserved characteristics. The ...
Cited by 11 - Related articles - Library Search - BL Direct - All 18 versions

Procurement contracts: Fixed price vs. cost plus

P Bajari… - 1999 - papers.ssrn.com
Abstract: Economists have applied the methodology of information economics and contract
theory (mechanism design) to problems in procurement and regulation. With the standard
adverse selection and moral hazard components, the principal should offer a menu of ...
Cited by 11 - Related articles - All 6 versions

A dynamic model of housing demand: Estimation and policy implications

[PDF] from clevelandfed.org
P Bajari, P Chan, D Krueger… - 2010 - nber.org
Using data from the Panel Study of Income Dynamics (PSID) we specify, estimate and
simulate a dynamic structural model of housing demand. Our model generalizes previous
applied econometric work by incorporating realistic features of the housing market ...
Cited by 11 - Related articles - Library Search - All 26 versions

[CITATION] Properties of the first price sealed bid auction with asymmetric bidders

P Bajari - Unpublished manuscript, University of Minnesota, 1996
Cited by 10 - Related articles

[CITATION] A structural econometric model of the first price sealed bid auction: with applications to procurement of highway improvements

P Bajari - manuscript, University of Minnesota, 1996
Cited by 9 - Related articles

[PDF] A Dynamic Structural Model of Housing Demand: Estimation and Policy Implications.

[PDF] from cemfi.es
P Bajari, P Chan… - 2008 - cemfi.es
Abstract In the US, macroeconomic policy makers are concerned about how consumers will
respond to falling nominal home prices, rising mortgage interest rates and tightening credit
standards. In order to address these questions, we estimate and simulate a dynamic ...
Cited by 9 - Related articles - View as HTML - All 8 versions

[CITATION] A Structural Econometric Model of the First Price Sealed Bid Auction with Asymmetric Bidders

P Bajari - Harvard University manuscript, 1998
Cited by 8 - Related articles

[PDF] Nonparametric and Semiparametric Analysis of a Dynamic Discrete Game

[PDF] from yale.edu
P Bajari, V Chernozhukov, H Hong… - … manuscript, Dep. Econ …, 2009 - aida.wss.yale.edu
Abstract In this paper, we study the identification and estimation of a dynamic discrete game
allowing for discrete or continuous state variables. We first provide a general nonparametric
identification result under the imposition of an exclusion restrictions on agents payoffs. ...
Cited by 8 - Related articles - View as HTML - All 13 versions

[CITATION] A Structural Econometric Model of the Sealed Highbid Auction: With Applications to Procurement of Highway Improvements,"

P Bajari - 1996 - working paper, University of …
Cited by 7 - Related articles

An empirical model of stock analysts' recommendations: market fundamentals, conflicts of interest, and peer effects

P Bajari… - 2004 - nber.org
In this paper we develop an empirical model of equity analyst recommendations for firms in
the NASDAQ 100 during 1998-2003. In the model we allow recommendations to depend on
publicly observed information, measures of an analyst's beliefs about a stock's future ...
Cited by 8 - Related articles - Library Search - BL Direct - All 8 versions

Estimating Hedonic Models of Consumer Demand with an Application to Urban Sprawl

[PDF] from clevelandfed.org
P Bajari… - Hedonic Methods in Housing Markets, 2008 - Springer
Hedonic regressions are one of the most commonly used techniques in applied
microeconomics for the study differentiated product markets. Hedonic regressions date back
at least 80 years (see Waugh 1928) and have been an active research area for several ...
Cited by 8 - Related articles - Get it from MIT Libraries - All 10 versions

A NOTE ON SEMIPARAMETRIC ESTIMATION OF FINITE MIXTURES OF DISCRETE CHOICE MODELS WITH APPLICATION TO GAME THEORETIC MODELS*

[PDF] from umn.edu
Full text - MIT Libraries
P Bajari, J Hahn, H Hong… - International Economic …, 2011 - Wiley Online Library
Bajari, P., Hahn, J., Hong, H. and Ridder, G.(2011), A NOTE ON SEMIPARAMETRIC
ESTIMATION OF FINITE MIXTURES OF DISCRETE CHOICE MODELS WITH APPLICATION
TO GAME THEORETIC MODELS. International Economic Review, 52: 807–824. doi: ...
Cited by 8 - Related articles - All 8 versions

[PDF] A Simple Nonparametric Estimator for the Distribution of Random Coefficients in Discrete Choice Models

[PDF] from 128.36.236.74
P Bajari, JT Fox, KI Kim… - … manuscript, University of …, 2008 - 128.36.236.74
Abstract We propose an estimator for discrete choice models, such as the logit, with a
nonparametric distribution of random coeffi cients. The estimator is linear regression subject
to linear inequality constraints and is robust, simple to program and quick to compute ...
Cited by 8 - Related articles - View as HTML - All 33 versions

[CITATION] Sealed-bid auctions with asymmetric bidders: computation, identification and estimation

P Bajari… - 2000 - Stanford University Working Paper
Cited by 6 - Related articles

[PDF] Measuring the efficiency of an FCC spectrum auction

[PDF] from bc.edu
JT Fox… - 2010 - fmwww.bc.edu
Abstract FCC spectrum auctions sell licenses to provide mobile phone service in designated
geographic territories. We propose a method to structurally estimate the deterministic
component of bidder valuations and apply it to the 1995–1996 C block auction. We base ...
Cited by 7 - Related articles - View as HTML - All 10 versions

A Theory-Based Approach to Hedonic Price Regressions with Time-Varying Unobserved Product Attributes: The Price of Pollution

[PDF] from wisc.edu
P Bajari, J Cooley, C Timmins - 2010 - nber.org
We propose a new strategy for a pervasive problem in the hedonics literature—recovering
hedonic prices in the presence of time-varying correlated unobservables. Our approach
relies on an assumption about homebuyer rationality, under which prior sales prices can ...
Cited by 6 - Related articles - Library Search - All 14 versions

Regression discontinuity designs with an endogenous forcing variable and an application to contracting in health care

[PDF] from psu.edu
P Bajari, H Hong, M Park… - 2011 - nber.org
Regression discontinuity designs (RDDs) are a popular method to estimate treatment
effects. However, RDDs may fail to yield consistent estimates if the forcing variable can be
manipulated by the agent. In this paper, we examine one interesting set of economic ...
Cited by 6 - Related articles - All 10 versions

[CITATION] Collusion and complementarities in an fcc spectrum auction

P Bajari… - Unpublished. NBER Working Paper, 2005
Cited by 7 - Related articles

[CITATION] Winner's Curse, Reserve prices, and Endogenous Entry: Empirical insights from eBay auctions, January 2001

P Bajari… - 2001 - Stanford University working paper
Cited by 5 - Related articles

[CITATION] Hedonic Price Indexes with Unobserved Product Characteristics, and Application to Personal Computers

Full text - MIT Libraries
P Bajari… - Journal of Business and Economic Statistics, 2005
Cited by 5 - Related articles

[CITATION] pEstimating Dynamic Models of Imperfect Competitionq, forthcoming Econometrica

P Bajari, L Benkard… - 2006
Cited by 5 - Related articles

Screening for conspiracies: applications for litigation, pre-litigation, regulation and internal monitoring

R Abrantes-Metz… - 2009 - papers.ssrn.com
Abstract: A screen is a statistical test designed to detect conspiracies aimed at illegally
manipulating a market. Competition authorities, academics and consultants have designed
a variety screens to detect competition problems, and the use of such screens is ...
Cited by 4 - Related articles

[CITATION] Winner's curse, Reserve Prices and

P Bajari… - 2000
Cited by 4 - Related articles

[CITATION] Steve Tadelis, 2003, Auctions versus negotiations in procurament: an empirical analysis

PL Bajari… - NBER Working Paper
Cited by 3 - Related articles

The random coefficients logit model is identified

[PDF] from umich.edu
JT Fox, SP Ryan, P Bajari - Journal of Econometrics, 2011 - Elsevier
The random coefficients multinomial choice logit model, also known as the mixed logit, has
been widely used in empirical choice analysis for the last thirty years. We prove that the
distribution of random coefficients in the multinomial logit model is nonparametrically ...
Cited by 3 - Related articles - Get it from MIT Libraries - All 5 versions

[CITATION] Identification and estimation of random utility models

P Bajari, JT Fox, K Kim… - 2007 - April 2007. working paper
Cited by 3 - Related articles

[CITATION] forthcoming. Auctions versus negotiations in procurement: an empirical analysis

P Bajari, R McMillan… - Journal of Law, Economics and Organization
Cited by 3 - Related articles - Get it from MIT Libraries

[CITATION] A structural model of Internet auctions

P Bajari… - 1999 - Working paper, Graduate School of …
Cited by 3 - Related articles

Procurement contracting with time incentives: theory and evidence

[PDF] from oxfordjournals.org
Full text - MIT Libraries
G Lewis… - The Quarterly Journal of Economics, 2011 - qje.oxfordjournals.org
Abstract In public procurement, social welfare often depends on how quickly the good is
delivered. A leading example is highway construction, where slow completion inflicts a
negative externality on commuters. In response, highway departments award some ...
Cited by 4 - Related articles - All 14 versions

[PDF] The Private and Social Costs of Urban Sprawl: The Lot Size Versus Commuting Trade-off

[PDF] from areuea.org
P Bajari… - 2004 - areuea.org
Abstract Urban sprawl has both costs and benefits. One cost of sprawl is that commute times
are increased since homes and places of work are more dispersed. A benefit is that sprawl
allows consumers to purchase larger homes and lots. This paper uses a new data set on ...
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[CITATION] Online Auctions: A Review of Empirical Findings

P Bajari… - forthcoming Journal of Economic Literature, 2003
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[PDF] Auction models when bidders make small mistakes: consequences for theory and estimation

[PDF] from dufe.edu.cn
P Bajari… - Working Papers, 2001 - time.dufe.edu.cn
Abstract In this paper, we explore the consequences of using equilibrium models of auctions
in making policy recommendations, such as the design of real world markets, or as a basis
for structural estimation when bidders make small errors in optimization. We consider two ...
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[CITATION] nAuctions versus Negotiations in Procurement: An Empirical Analysis, oJournal of Law

P Bajari, R McMillan… - Economics and Organization, forth $ coming, 2008
Cited by 3 - Related articles

[CITATION] Procurement contracts: fixed price vs

P Bajari… - 2001 - … Paper (Version vom 15.03. 1999), zT …
Cited by 7 - Related articles

[CITATION] il Kim, Kyoo, and Stephen P. Ryan (2010), A Simple Nonparametric Estimator for the Distribution of Random Coefficients

PL Bajari… - mimeo
Cited by 2 - Related articles

[CITATION] il Kim, Kyoo, and Stephen P. Ryan (2009), The Random Coefficients Logit Model Is Identified

PL Bajari… - mimeo
Cited by 2 - Related articles

[CITATION] First price auctions with asymmetric bidders: computation, identification and estimation

P Bajari - Unpublished Working Paper, Stanford Universtiy, 1999
Cited by 2 - Related articles

[PDF] Discrete Choice with a Nonparametric Distribution of Random Coefficients

[PDF] from rutgers.edu
P Bajari, J Fox, K Kim… - 2007 - economics.rutgers.edu
Abstract In this paper, we propose a method for estimating a mixed logit model where the
distribution of random coeffi cients is nonparametric. The method is based on linear
regression and is extremely simple to compute compared to alternative methods. We ...
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[PDF] A Semiparametric Analysis of Adverse Selection and Moral Hazard in Health Insurance Contracts

[PDF] from 128.151.238.65
P Bajari, NH Hong… - 2005 - 128.151.238.65
Abstract The last decade has been characterized by unprecedented inflation in health care
expenditures. One commonly suggested source for this inflation is the distortion in the health
insurance market due to asymmetric information about the latent health status of ...
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[CITATION] Forthcoming.“Estimating Dynamic Models of Imperfect Competition.”

P Bajari, CL Benkard… - Econometrica
Cited by 2 - Related articles - Get it from MIT Libraries

[PDF] Auction Models are not Robust when Bidders Make Small Mistakes

[PDF] from dufe.edu.cn
P Bajari - Working Papers, 1999 - time.dufe.edu.cn
Abstract Economists are generally suspicous of equilibria that are not robust to small
perturbations since agents in real world problems may not be able to perfectly optimize. This
research studies two forms of perturbations in a benchmark auction model where firms ...
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[CITATION] nAre Structural Estimates of Auction Models Reasonable

P Bajari… - Evidence from Experimental Data, oJournal of Political …, 2005
Cited by 2

Incentives and Adaptation: Evidence from Highway Procurement in Minnesota

[PDF] from harvard.edu
G Lewis… - 2011 - nber.org
Procurement projects often encounter unanticipated problems. Deadlines and penalties are
one important instrument used to incentivize contractors to adapt their plans. We develop a
theory of highway procurement in which contractors must modify their construction rate ...
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[CITATION] The first price sealed bid auction with asymmetric bidders: Theory with applications, doctorial dissertation

P Bajari - Department of Economics, University of Minnesota, 1997
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[CITATION] A Discrete Choice Model of Housing Demand

P Bajari… - 2000 - mimeo
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[CITATION] Sealed-Bid Auctions with Asymmetric Bidders: Theory and Computation

P Bajari - 1999 - Stanford University manuscript
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[CITATION] oAuctions versus Nego% tiations in Procurement: An Empirical Analysis, pMimeo

P Bajari, R McMillan… - 2004 - Stanford University
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Why Do Blacks Live in the Cities and Whites Live in the Suburbs?

M Kahn… - 2001 - papers.ssrn.com
Abstract: This paper estimates a discrete choice model of housing product demand to study
the causes of black urbanization. Our estimation strategy incorporates that there are
unobserved attributes which are correlated with observed product attributes. We bound ...
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[CITATION] Should Governments Auc% tion Nationwide Spectrum Licenses

P Bajari… - Estimating Bidder Valuations. Chicago, 2005
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[PDF] Identification and efficient semiparametric estimation of a dynamic discrete game

[PDF] from umn.edu
P Bajari, V Chernozhukov, H Hong… - 2009 - econ.umn.edu
Abstract In this paper, we study the identification and estimation of a dynamic discrete game
allowing for discrete or continuous state variables. We first provide a general nonparametric
identification result under the imposition of an exclusion restrictions on agents payoffs. ...
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[CITATION] Why Does Racial Segregation Persist?: A Case Study of Philadelphia

P Bajari… - 2000
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A simple estimator for the distribution of random coefficients

[PDF] from umn.edu
Full text - MIT Libraries
JT Fox, SP Ryan, P Bajari - Quantitative Economics, 2011 - Wiley Online Library
We propose a simple mixtures estimator for recovering the joint distribution of parameter
heterogeneity in economic models, such as the random coefficients logit. The estimator is
based on linear regression subject to linear inequality constraints, and is robust, easy to ...
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[CITATION] Winner's Curse, Reserve Prices and Endogenous Entry: Empirical Insights From eBay Auction (2000)

P Bajari… - Stanford University Working Paper
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[CITATION] VEstimating Dynamic Models of Imperfect Competition, V Econometrica

P Bajari, CL Benkard… - 2005 - Vol
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Partial Identification of Heterogeneity in Preference Orderings Over Discrete Choices

[PDF] from umich.edu
I Sher, JT Fox… - 2011 - nber.org
We study a variant of a random utility model that takes a probability distribution over
preference relations as its primitive. We do not model products using a space of observed
characteristics. The distribution of preferences is only partially identified using cross- ...
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[PDF] A simple nonparametric estimator for the distribution of random coefficients in mixture models

[PDF] from uchicago.edu
P Bajari, JT Fox, K il Kim… - 2009 - uchicago.edu
Abstract We propose a simple nonparametric mixtures estimator for recovering the joint
distribution of parameter heterogeneity in economic models, such as the random coefficients
logit. The estimator is based on linear regression subject to linear inequality constraints, ...
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[CITATION] Competitive Versus Collusive Bidding: Identification and Testing

P Bajari… - 2000 - Working Paper, Stanford University
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Antitrust Screening: Making Compliance Programs Robust

RM Abrantes-Metz, P Bajari… - Ann Arbor, 2010 - papers.ssrn.com
Abstract: One of the prime issues in the antitrust and competition law1 compliance field is
how to deal with the risk of collusive or cartel behavior which involves willful violations of the
law. In the past much of antitrust compliance work has focused on training, perhaps ...
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[PDF] Game Theory and Econometrics: A Survey of Some Recent Research

[PDF] from yale.edu
P Bajari, H Hong… - Econometric Society World …, 2010 - aida.econ.yale.edu
Abstract We survey an emerging literature on the econometric analysis of static and dynamic
models of strategic interactions. Econometric methods of identification and estimation allow
researcher to make use of observed data on individual choice behavior and on the ...
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[PDF] A note on semiparametric estimation of finite mixtures of discrete choice models

[PDF] from usc.edu
P Bajari, J Hahn, H Hong… - International Economic …, 2008 - dornsife.usc.edu
Recently, there has been considerable interest in the econometric analysis of static, discrete
games. In this literature, a game is a generalization of a standard discrete choice model,
such as a binary logit or probit. As in a discrete choice model, an agent's payoffs are a ...
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Book Review: Microeconometrics: Methods and Applications and Microeconometrics Using Stata

P Bajari… - Econometric Reviews, 2012 - Taylor & Francis
Microeconometrics: Methods and Applications (MMA for short) by A. Colin Cameron and
Pravin K. Trivedi is an in-depth, textbook-style treatment of techniques that are commonly
used in applied microeconomics. The companion text Microeconometrics Using Stata ( ...
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[PDF] Identification and Efficient Sieve Semiparametric Estimation of a Dynamic Discrete Game

[PDF] from harvard.edu
P Bajari, V Chernozhukov, H Hong… - isites.harvard.edu
Abstract In this paper, we study the identification and estimation of a dynamic discrete game
allowing for discrete or continuous state variables. We first provide a general nonparametric
identification result under the imposition of an exclusion restrictions on agents payoffs. ...
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