posterior odds comparison of a symmetric low-price, sealed-bid auction within the common-value and the independent-private-values paradigms (replication data)

I attempt to decide, using the posterior odds ratio, whether the symmetric common-value paradigm or the symmetric independent-private-values paradigm is a more probable explanation of the low-price, sealed-bid auctions conducted by the Indian Oil Corporation to purchase crude-oil from the international market. The estimation approach is structural parametric. The auctions are modelled as static non-cooperative games of incomplete information with risk neutral bidders. I conclude that the symmetric independent-private-values paradigm is more probable.

Data and Resources

Suggested Citation

Sareen, Samita (1999): Posterior odds comparison of a symmetric low-price, sealed-bid auction within the common-value and the independent-private-values paradigms (replication data). Version: 1. Journal of Applied Econometrics. Dataset. http://dx.doi.org/10.15456/jae.2022314.0707720895