Assignment 1

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

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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.
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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)...
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