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Essays in Industrial Organization.

Grundl, Serafin.

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Essays in Industrial Organization.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Industrial Organization./
Author:	Grundl, Serafin.
Description:	138 p.
Notes:	Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.
Contained By:	Dissertation Abstracts International75-10A(E).
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3622233
ISBN:	9781303938689

Essays in Industrial Organization.
Grundl, Serafin.

Essays in Industrial Organization. - 138 p.

Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.

Thesis (Ph.D.)--The University of Wisconsin - Madison, 2014.

Chapter 1 Retail prices are volatile and decrease over time in many markets for differentiated durable goods. Consumers in these markets have an incentive to delay their purchase and wait for lower prices. This chapter uses a novel data set from a price alert service for TVs sold on Amazon.com to estimate substitution patterns across products and over time. Users of a price alert service submit a price threshold for a product they want to purchase and receive an alert when their threshold is reached. I estimate consumer preferences using a discrete/continuous-choice model in which the price threshold is the solution to an optimal stopping problem. The importance of taking dynamics into account is shown by comparing the own-price elasticities in the dynamic model to a counterfactual with myopic consumers and to estimates from a static model.

ISBN: 9781303938689Subjects--Topical Terms:

517137
Economics.

Essays in Industrial Organization.
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100 1 $a Grundl, Serafin. $3 3182699
245 1 0 $a Essays in Industrial Organization.
300 $a 138 p.
500 $a Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.
500 $a Advisers: Kenneth Hendricks; Amit Gandhi.
502 $a Thesis (Ph.D.)--The University of Wisconsin - Madison, 2014.
520 $a Chapter 1 Retail prices are volatile and decrease over time in many markets for differentiated durable goods. Consumers in these markets have an incentive to delay their purchase and wait for lower prices. This chapter uses a novel data set from a price alert service for TVs sold on Amazon.com to estimate substitution patterns across products and over time. Users of a price alert service submit a price threshold for a product they want to purchase and receive an alert when their threshold is reached. I estimate consumer preferences using a discrete/continuous-choice model in which the price threshold is the solution to an optimal stopping problem. The importance of taking dynamics into account is shown by comparing the own-price elasticities in the dynamic model to a counterfactual with myopic consumers and to estimates from a static model.
520 $a Chapter 2 This chapter studies identification and estimation of first-price auctions if the bidders face ambiguity about the distribution of valuations. Ambiguity is modeled using Gilboa and Schmeidler's (1989) Maxmin Expected Utility preferences. We exploit variation in the number of bidders to identify the essential primitives of the model. The identification result yields a closed form for the inverse bid function, which suggests a two-step estimation procedure. We study asymptotic and finite sample properties of the estimators. We find evidence of ambiguity in USFS timber auctions which leads to aggressive bidding for bidders with high valuations and has important implications for auction design.
520 $a Chapter 3 This chapter studies inference for first price auctions with risk averse bidders and an unobserved auction characteristic. Bidders are assumed to have Constant Relative Risk Aversion (CRRA). We exploit variation in the number of bidders to identify the primitives and show that our identifying assumption is compatible with common models of entry. We demonstrate that ignoring unobserved heterogeneity can lead to significant over-estimation of the CRRA coefficient.
590 $a School code: 0262.
650 4 $a Economics. $3 517137
650 4 $a Commerce-Business. $3 3168423
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710 2 $a The University of Wisconsin - Madison. $b Economics. $3 2094978
773 0 $t Dissertation Abstracts International $g 75-10A(E).
790 $a 0262
791 $a Ph.D.
792 $a 2014
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3622233