作者：Bajari, P; Hortaçsu, A
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; University of Chicago
摘要：Recently, economists have developed methods for structural estimation of auction models. Many researchers object to these methods because they find the strict rationality assumptions to be implausible. Using bid data from first-price auction experiments, we estimate four alternative structural models: (1) risk-neutral Bayes-Nash, (2) risk-averse Bayes-Nash, (3) a model of learning, and (4) a quantal response model of bidding. For each model, we compare the estimated valuations and the valuatio...
作者：Li, W; Yang, DT
作者单位：University of Virginia; Virginia Polytechnic Institute & State University
摘要：The Great Leap Forward disaster, characterized by a collapse in grain production and a widespread famine in China between 1959 and 1961, is found attributable to a systemic failure in central planning. Wishfully expecting a great leap in agricultural productivity from collectivization, the Chinese government accelerated its aggressive industrialization timetable. Grain output fell sharply as the government diverted agricultural resources to industry and imposed an excessive grain procurement b...
