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st: A question about binary outcomes

From   C Engelbrecht <>
Subject   st: A question about binary outcomes
Date   Tue, 28 Sep 2010 21:07:53 -0700

I'm not sure if Probit / Logit is the appropriate model here, and I
hope someone can give me some suggestions.

Suppose we have a competitive auction process. A, B, C,... F all place
bids in an auction hosted by Z. Z can only pick one. Now I want to
study what drives that choice. Currently I am modeling it as a binary
choice, i.e. for each bid (A, ..., F) the outcome is either winning or
not winning. But this seems to disregard the fact that only one of
them can be winning. Is this an unnecessary concern? If not, how would
you suggest addressing it?

Many thanks,

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