Decision Sciences
7 years ago

Unveiling hidden demand: How internet auctions hide true participant valuations.

1 view
International Journal of Industrial Organization
Inferring ascending auction participation from observed bidders
Brennan Platt

Paper Summary

The article shows how to estimate the number of people interested in an online auction, even if they don't actually bid. By looking at the average number of bidders, we can figure out how many potential participants there are. This helps us understand the value people place on the items being auctioned. The method can estimate the range of prices people are willing to pay, even if they don't end up bidding.

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