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作者：Armstrong, Timothy B.
作者单位：Yale University
摘要：Many empirical studies of auctions rely on the assumption that the researcher observes all variables that make auctions differ ex ante. When there is unobserved heterogeneity, the direction of the bias this causes is known only in a few restrictive examples. In this paper, I show that ignoring unobserved heterogeneity in a first price sealed bid auction with symmetric independent private values gives bounds on several quantities of economic interest under surprisingly general conditions. The r...
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作者：Fernandez-Val, Ivan; Lee, Joonhwah
作者单位：Boston University; Massachusetts Institute of Technology (MIT)
摘要：This paper considers fixed effects estimation and inference in linear and nonlinear panel data models with random coefficients and endogenous regressors. The quantities of interestmeans, variances, and other moments of the random coefficientsare estimated by cross sectional sample moments of generalized method of moments (GMM) estimators applied separately to the time series of each individual. To deal with the incidental parameter problem introduced by the noise of the within-individual estim...
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作者：Bachmann, Ruediger; Bai, Jinhui H.
作者单位：RWTH Aachen University; Georgetown University
摘要：What fraction of the business cycle volatility of government purchases is accounted for as endogenous reactions to overall macroeconomic conditions? We answer this question in the framework of a neoclassical representative household model where the provision of a public consumption good is decided upon endogenously and in a time-consistent fashion. A simple version of such a model with aggregate productivity as the sole driving force fails to match important features of the business cycle dyna...
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作者：Iriberri, Nagore; Rey-Biel, Pedro
作者单位：University of Basque Country; Basque Foundation for Science; Pompeu Fabra University; Autonomous University of Barcelona; Barcelona School of Economics
摘要：Using data from modified dictator games and a mixture-of-types estimation technique, we find a clear relationship between a classification of subjects into four different types of interdependent preferences (selfish, social welfare maximizers, inequity averse, and competitive) and the beliefs subjects hold about others' distributive choices in a nonstrategic environment. In particular, selfish individuals fall into false-consensus bias more than other types, as they can hardly conceive that ot...
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作者：Geyer, Judy; Sieg, Holger
作者单位：ABT Associates; University of Pennsylvania; National Bureau of Economic Research
摘要：The purpose of this paper is to develop and estimate a new equilibrium model of public housing that acknowledges the fact that the demand for public housing may exceed the available supply. We show that ignoring these supply side restrictions leads to an inconsistent estimator of household preferences. We estimate the parameters of the model based on a unique panel data set of low-income households in Pittsburgh. We find that public housing is an attractive option for seniors and exceedingly p...
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作者：Srisuma, Sorawoot
作者单位：University of Surrey
摘要：We develop a minimum distance estimator for dynamic games of incomplete information. We take a two-step approach, following Hotz and Miller (1993), based on the pseudo-model that does not solve the dynamic equilibrium so as to circumvent the potential indeterminacy issues associated with multiple equilibria. The class of games estimable by our methodology includes the familiar discrete unordered action games as well as games where players' actions are monotone (discrete, continuous, or mixed) ...
