{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,29]],"date-time":"2026-08-29T07:23:24Z","timestamp":1787988204997,"version":"build-2784847793"},"reference-count":14,"publisher":"Wiley","issue":"8","license":[{"start":{"date-parts":[[2006,12,12]],"date-time":"2006-12-12T00:00:00Z","timestamp":1165881600000},"content-version":"vor","delay-in-days":11,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2006,12]]},"abstract":"<jats:title>Abstract<\/jats:title><jats:p>We construct a model of participation and bidding at multi\u2010unit, sequential, clock auctions when bidders have multi\u2010unit demand. We describe conditions sufficient to characterize a symmetric, perfect\u2010Bayesian equilibrium and then demonstrate that this equilibrium induces an efficient allocation. We propose an algorithm, based on the generalized Vickrey auction, to calculate the expected winning bid for each unit sold. This algorithm allows us to construct a simulation\u2010based estimator of the parameters for both the participation process and the distribution of latent valuations. We apply our method to data from 37 multi\u2010lot, sequential, English auctions of export permits for timber held in Russia. Copyright \u00a9 2006 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.854","type":"journal-article","created":{"date-parts":[[2006,12,12]],"date-time":"2006-12-12T13:07:34Z","timestamp":1165928854000},"page":"1221-1247","source":"Crossref","is-referenced-by-count":31,"title":["An empirical model of the multi\u2010unit, sequential, clock auction"],"prefix":"10.1002","volume":"21","author":[{"given":"Stephen G.","family":"Donald","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Harry J.","family":"Paarsch","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jacques","family":"Robert","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2006,12,12]]},"reference":[{"key":"e_1_2_8_2_1","doi-asserted-by":"publisher","DOI":"10.2307\/1913623"},{"key":"e_1_2_8_3_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1430-9134.1992.00607.x"},{"key":"e_1_2_8_4_1","doi-asserted-by":"crossref","unstructured":"DonaldS PaarschH RobertJ.1996.Identification estimation and testing in empirical models of sequential oral ascending\u2010price auctions within the independent private\u2010values paradigm. 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