Traders' Bidding Strategies on European Grain Export Refunds: An Analysis with Affiliated Signals
Using a multivariate distribution of traders' information with correlations, we specify the traders' bidding strategies on tenders of European soft wheat intervention stocks. We show that correlations may have opposing effects on the traders' bidding strategy, depending on their valua...
| Veröffentlicht in: | American Journal of Agricultural Economics. - Oxford University Press. - 83(2001), 3, Seite 563-575 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2001
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| Zugriff auf das übergeordnete Werk: | American Journal of Agricultural Economics |
| Schlagworte: | affiliated values auction theory EU exports generalized method of moments trade relations Business Economics Applied sciences Biological sciences Mathematics |
| Zusammenfassung: | Using a multivariate distribution of traders' information with correlations, we specify the traders' bidding strategies on tenders of European soft wheat intervention stocks. We show that correlations may have opposing effects on the traders' bidding strategy, depending on their valuation of the grain. This structural approach allows us to estimate the traders' strategies using generalized method of moments procedures. |
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| ISSN: | 14678276 |