haku: @indexterm TIMBER / yhteensä: 24
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| Tekijä: | Paarsch, H. J. |
| Otsikko: | Deriving an estimate of the optimal reserve price: An application to British Columbian timber sales |
| Lehti: | Journal of Econometrics
1997 : JUN, VOL. 78:2, p. 333-357 |
| Asiasana: | PRICING ECONOMETRIC MODELS TIMBER |
| Kieli: | eng |
| Tiivistelmä: | This study uses a simple game-theoretic model of behavior at oral, ascending price auctions within the independent private-values paradigm to put structure upon data from a sample of timber sales held in the province of British Columbia , where the independent private-values paradigm appears well. Some empirical specifications are estimated and the methods of Vuong are used to decide which model is the best. Estimates of the optimal reserve price are calculated under different assumptions concerning the seller's valuation of the timber. |
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