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An Introduction to the Structural Econometrics of Auction Data
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Paarsch and Hong have done a masterful job bringing together the mathematics, economic theory, econometrics, and computational tools necessary to analyze auction data. The result is an excellent source for both auction specialists and others who want to learn about this important area of research. -- Kenneth L. Judd, Hoover Institution, Stanford University This book is essential reading for anyone interested in taking auction theory to auction data. By employing a structural approach, the authors teach the reader to take full econometric advantage of tight auction-theoretic restrictions not only in single-unit auctions, but in a variety of multi-unit auctions as well. Whether you wish to test equilibrium behavior, recover the joint distribution of true bidder values, or check the optimality of an auction design, the techniques and insights provided in this book, not to mention the rich set of problems following each chapter, will be very useful indeed. -- Philip J. Reny, Professor of Economics, University of Chicago Paarsch is the 'founding father' of the rapidly growing literature on structural econometric analysis of auctions, and Hong compliments Paarsch's skills in the economics, theory, and computation of solutions to auction models with his own strong expertise in semiparametric econometric methods. The result is an excellent book that is on the 'must read' list for anyone who is interested in this literature, including the frontiers of current research in both parametric and semiparametric methods of inferences that can be applied to a wide range of auction institutions. -- John Rust, Professor of Economics, University of Maryland This book is an elegant treatment of the econometric analysis of auction data. The authors do an excellent job of mapping the link between auction theory and the econometric analysis of auctions. The book is accessible to a general audience of economists, but still retains a thorough treatment of the technical details. I am sure this will be a valuable resource for researchers in industrial organization as well as for economists who are looking for a lucid introduction to this exciting line of research. -- Patrick Bajari, Professor of Economics, University of Michigan

About the Author

After initial appointments at the University of British Columbia and the University of Western Ontario, Harry J. Paarsch held the position of Professor of Economics and Robert Jensen Research Fellow in the Henry B. Tippie College of Business at the University of Iowa and subsequently Chair in Economics at the University of Melbourne. From 2011 to 2014, he worked as an applied economist and data scientist for Amazon.com. Han Hong is Associate Professor of Economics at Duke University. M. Ryan Haley is Assistant Professor of Economics at the University of Wisconsin-Oshkosh.

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"Paarsch and Hong have done a masterful job bringing together the mathematics, economic theory, econometrics, and computational tools necessary to analyze auction data. The result is an excellent source for both auction specialists and others who want to learn about this important area of research." Kenneth L. Judd, Hoover Institution, Stanford University

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