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Measurement of excess bidding in auctions

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>09/2012
<mark>Journal</mark>Economics Letters
Issue number3
Volume116
Number of pages4
Pages (from-to)377-380
Publication statusPublished
Original languageEnglish

Abstract

This paper provides a link between the structural approach of econometrics of auctions with the stochastic frontier literature in an effort to model excess bidding behaviour. The new technique is applied to timber auction data. The results suggest that both systematic overbidding and underbidding components are important.