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...

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Published in:American journal of agricultural economics 2001-08, Vol.83 (3), p.563-575
Main Authors: Bourgeon, Jean-Marc, Roux, Yves Le
Format: Article
Language:English
Subjects:
affiliated values
Agricultural economics
Agricultural policy
Agricultural price policy
Agriculture
Approximation
auction theory
Auctions
Bidders
Bidding
Cumulative distribution functions
Econometrics
Economics
EU exports
Europe
European Union
Expected values
Farm exports
Food policy
Game theory
Generalized method of moments
Grains
Humanities and Social Sciences
Logical givens
Market prices
Q170
Roux
Securities trading
Stocks
trade relations
Wheat
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container_title American journal of agricultural economics
container_volume 83
creator Bourgeon, Jean-Marc
Roux, Yves Le
description 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.
doi_str_mv 10.1111/0002-9092.00178
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subjects affiliated values
Agricultural economics
Agricultural policy
Agricultural price policy
Agriculture
Approximation
auction theory
Auctions
Bidders
Bidding
Cumulative distribution functions
Econometrics
Economics
EU exports
Europe
European Union
Expected values
Farm exports
Food policy
Game theory
Generalized method of moments
Grains
Humanities and Social Sciences
Logical givens
Market prices
Q170
Roux
Securities trading
Stocks
trade relations
Wheat
title Traders' Bidding Strategies on European Grain Export Refunds: An Analysis with Affiliated Signals
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