{"paper":{"title":"Partial Identification of the Valuation Distribution in Sequential English Auctions","license":"http://creativecommons.org/licenses/by/4.0/","headline":"Sequential English auctions allow partial identification of bidder valuations through dynamic opportunity-cost restrictions.","cross_cats":[],"primary_cat":"econ.EM","authors_text":"Dongwoo Kim, Kyoo il Kim, Pallavi Pal","submitted_at":"2026-05-14T05:38:16Z","abstract_excerpt":"This paper extends the incomplete model of Haile and Tamer (2003) from static English auctions to sequential English auctions. Because bidders may wait for future opportunities, the static condition that bidders do not let rivals win at beatable prices need not hold. We replace it with a dynamic opportunity-cost restriction, yielding nonparametric valuation bounds without solving a dynamic equilibrium. Sharp bounds are also characterized. We propose a novel moment-condition inversion estimator that pools auctions with heterogeneous bidder counts, mitigating finite-sample instability of order s"},"claims":{"count":4,"items":[{"kind":"strongest_claim","text":"We replace it with a dynamic opportunity-cost restriction, yielding nonparametric valuation bounds without solving a dynamic equilibrium. Sharp bounds are also characterized. We propose a novel moment-condition inversion estimator that pools auctions with heterogeneous bidder counts.","source":"verdict.strongest_claim","status":"machine_extracted","claim_id":"C1","attestation":"unclaimed"},{"kind":"weakest_assumption","text":"Bidders satisfy the dynamic opportunity-cost restriction: they do not let rivals win at prices below their opportunity cost of waiting for future auctions.","source":"verdict.weakest_assumption","status":"machine_extracted","claim_id":"C2","attestation":"unclaimed"},{"kind":"one_line_summary","text":"Nonparametric bounds on bidder valuations in sequential English auctions are obtained via a dynamic opportunity-cost restriction, with a new estimator pooling heterogeneous auctions and applied to Korean and online car data.","source":"verdict.one_line_summary","status":"machine_extracted","claim_id":"C3","attestation":"unclaimed"},{"kind":"headline","text":"Sequential English auctions allow partial identification of bidder valuations through dynamic opportunity-cost restrictions.","source":"verdict.pith_extraction.headline","status":"machine_extracted","claim_id":"C4","attestation":"unclaimed"}],"snapshot_sha256":"fc1dfbcbbf0080f2b0ac3be0ab0575ed6c96df347371277079e49a9a4571573f"},"source":{"id":"2605.14400","kind":"arxiv","version":1},"verdict":{"id":"b6a94d33-6973-474e-932c-5def2fa2e912","model_set":{"reader":"grok-4.3"},"created_at":"2026-05-15T01:53:33.556962Z","strongest_claim":"We replace it with a dynamic opportunity-cost restriction, yielding nonparametric valuation bounds without solving a dynamic equilibrium. Sharp bounds are also characterized. We propose a novel moment-condition inversion estimator that pools auctions with heterogeneous bidder counts.","one_line_summary":"Nonparametric bounds on bidder valuations in sequential English auctions are obtained via a dynamic opportunity-cost restriction, with a new estimator pooling heterogeneous auctions and applied to Korean and online car data.","pipeline_version":"pith-pipeline@v0.9.0","weakest_assumption":"Bidders satisfy the dynamic opportunity-cost restriction: they do not let rivals win at prices below their opportunity cost of waiting for future auctions.","pith_extraction_headline":"Sequential English auctions allow partial identification of bidder valuations through dynamic opportunity-cost restrictions."},"references":{"count":56,"sample":[{"doi":"","year":2025,"title":"Management Science , volume=","work_id":"17f6527d-a669-4e9e-9e88-13e0a175d494","ref_index":1,"cited_arxiv_id":"","is_internal_anchor":false},{"doi":"","year":1994,"title":"Annales d'Economie et de Statistique , pages=","work_id":"dc3a6a9a-d592-4611-a52d-d78786454405","ref_index":2,"cited_arxiv_id":"","is_internal_anchor":false},{"doi":"","year":2017,"title":"Generalized instrumental variable models , author=. 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