研究者情報 | 神奈川大学

ナカニシ　ハヤト Nakanishi Hayato 中西　勇人所属神奈川大学経済学部経済学科/現代ビジネス学科職種助教
言語種別	英語
発行・発表の年月	2024/11
形態種別	学術雑誌
査読	査読あり
標題	Urban environmental evaluation using affiliated private value auction model.
執筆形態	単著
掲載誌名	Empirical Economics
掲載区分	国外
出版社・発行元	Springer
概要	In this study, we evaluate a subsidy program that reduces urban fire risk. Using apartment auction data from Osaka, Japan, we employ econometric models of first-price sealed-bid auctions to assess the program's benefits. In our analysis, we use the affiliated private value (APV) model to infer the bidder's valuation. We model affiliation using the Archimedean copula and parametric marginals. To estimate the parameters of the copulas and parametric marginals, we use moment conditions that are satisfied by observed and equilibrium bids when our model specification is correct. We apply the method of simulated moments to the moment conditions. Overidentification and goodness-of-fit tests reject the independent private value (IPV) models, although some APV models are not rejected. We note that IPV models under- or overestimate the benefit of the policy when the reduction in fire risk is not only non-marginal but also marginal.
DOI	https://doi.org/10.1007/s00181-024-02669-x