Assignment 1

Assignment 1 - Step 1. Create an Excel Data Set. Open an...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Assignment 1: Econ 177 Professor Garratt Your assignment is to estimate your own private bid functions that characterize your bidding behavior in the 2-bidder and 5-bidder first- and second price auctions. We will only consider the case of no entry fee and no reserve. The following instructions relate to your data for treatment 1 of the first-price auction. After you complete Steps 1 and 2 using the treatment 1 data from your first-price auction bid sheet, REPEAT the process using the treatment 2 data from your first-price auction bid sheet and the treatment 1 and 2 data from your second-price auction bid sheet.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Step 1. Create an Excel Data Set. Open an excel spread sheet and define the following columns. Round Value Bid Input your auction data. You should produce a data set that looks like this. Round Value Bid 1 88.12 60.00 2 2.32 2.12 . . . . . . . . . 10 78.78 75.00 Step 2. Run a regression using Bids as the “Y” variable and Values as the “X” variable. Fill in the following tables: FPA 2 bidder 5-bidder Coefficient Standard Error Coefficient Standard Error Intercept X variable (slope) SPA 2 bidder 5-bidder Coefficient Standard Error Coefficient Standard Error Intercept X variable (slope)...
View Full Document

This note was uploaded on 12/26/2011 for the course ECON 177 taught by Professor Garratt during the Fall '09 term at UCSB.

Ask a homework question - tutors are online