作者：Donna, Javier D.; Espin-Sanchez, Jose-Antonio
作者单位：University System of Ohio; Ohio State University; Yale University
摘要：We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by paying a high price for the first unit, thus deterring others from bidding on subsequent units. When units are substitutes, different bidders win the units with positive probability, paying prices similar in magnitude. We recover individual demand consist...
