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st: Minimum Reservation Prices in Land Auctions

From   Yuval Arbel <>
To   statalist <>
Subject   st: Minimum Reservation Prices in Land Auctions
Date   Tue, 1 Nov 2011 17:22:47 +0200

Dear Statalist Participants,

I am working with a dataset that includes information about land
auctions with and without minimum (sellers' reservation) prices. These
reservation prices are different from one auction to another. I am
trying to simulate the possibility that the minimum price has been
removed and predict the winning bid under such circumstances
The methodology I employ is Difference-in-Difference, i.e., I run two
separate regressions for auctions with and without a minimum price.

My questions are as follows:

1. How do I address statistically the problem that all the proposed
prices are bounded downward in auctions with minimum prices? (Note
also that tobit is not the appropriate solution here).

2. In the case that my first question can be addresses, can I
incorporate the appropriate procedure with the Heckman Selection
Procedure in stata?

Dr. Yuval Arbel
School of Business
Carmel Academic Center
4 Shaar Palmer Street, Haifa, Israel
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