IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01072444.html
   My bibliography  Save this paper

Un modèle d'estimation de la valeur des lots de bois à partir de résultats d'enchères avec invendus

Author

Listed:
  • Raphaële Preget

    (LEF - Laboratoire d'Economie Forestière - INRA - Institut National de la Recherche Agronomique - AgroParisTech)

  • Patrick Waelbroeck

Abstract

L'estimation de la valeur des bois sur pied est un sujet important pour les services forestiers nationaux afin qu'ils puissent fixer un prix de retrait pertinent et obtenir un juste prix. La méthode des prix hédonistes est particulièrement adaptée à l'évaluation des lots de bois sur pied, car de nombreuses caractéristiques en influencent le prix. Nous proposons un modèle d'estimation à partir des résultats d'enchères de bois de l'Office National des Forêts (ONF). Cependant, de nombreux lots restent invendus à l'issu de ces ventes. En outre, le prix de retrait n'est pas annoncé. Nous corrigeons le biais dû à la présence d'invendus grâce au modèle de sélection de Heckman et nous étudions les variables qui déterminent la probabilité de vente d'un lot ainsi que le prix implicite des caractéristiques des lots.

Suggested Citation

  • Raphaële Preget & Patrick Waelbroeck, 2005. "Un modèle d'estimation de la valeur des lots de bois à partir de résultats d'enchères avec invendus," Post-Print hal-01072444, HAL.
  • Handle: RePEc:hal:journl:hal-01072444
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. D. M. Prescott & G. D. Puttock, 1990. "Hedonic Price Functions for Multi-product Timber Sales in Southern Ontario," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 38(2), pages 333-344, July.
    2. Alan Beggs & Kathryn Graddy, 1997. "Declining Values and the Afternoon Effect: Evidence from Art Auctions," RAND Journal of Economics, The RAND Corporation, vol. 28(3), pages 544-565, Autumn.
    3. Bernard Elyakime & Jean-Jacques Laffont & Patrice Loisel & Quang Vuong, 1994. "First-Price Sealed-Bid Auctions with Secret Reservation Prices," Annals of Economics and Statistics, GENES, issue 34, pages 71-114.
    4. Horstmann, Ignatius J & LaCasse, Chantale, 1997. "Secret Reserve Prices in a Bidding Model with a Resale Option," American Economic Review, American Economic Association, vol. 87(4), pages 663-684, September.
    5. Ginsburgh, V. & van Ours, J.C., 2003. "How to Organize Sequential Auctions : Results of a Natural Experiment by Christie's," Other publications TiSEM 01ec6d80-7501-441c-a60b-c, Tilburg University, School of Economics and Management.
    6. Puttock, G. David & Prescott, D.M. & Meilke, Karl D., 1989. "Stumpage Prices In Southwestern Ontario: A Hedonic Function Approach," Working Papers 123573, University of Guelph, Department of Food, Agricultural and Resource Economics.
    7. Ashenfelter, Orley & Genesove, David, 1992. "Testing for Price Anomalies in Real-Estate Auctions," American Economic Review, American Economic Association, vol. 82(2), pages 501-505, May.
    8. Vincent Daniel R., 1995. "Bidding Off the Wall: Why Reserve Prices May Be Kept Secret," Journal of Economic Theory, Elsevier, vol. 65(2), pages 575-584, April.
    9. repec:adr:anecst:y:1994:i:34:p:04 is not listed on IDEAS
    10. Neil Gandal, 1997. "Sequential Auctions of Interdependent Objects: Israeli Cable Television Licenses," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 227-244, September.
    11. repec:bla:jindec:v:45:y:1997:i:3:p:227-44 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gerard Marty & Raphaele Preget, 2007. "A Socio-economic Analysis of French Public Timber Sales," Working Papers - Cahiers du LEF 2007-03, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.
    2. Dossè Mawussi DJAHINI-AFAWOUBO, 2023. "Niveau d’éducation et probabilité d’être employé dans le secteur informel au Togo," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 57, pages 29-48.
    3. Elyakime, B. & Cabanettes, A., 2009. "How to improve the marketing of timber in France?," Forest Policy and Economics, Elsevier, vol. 11(3), pages 169-173, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gerard Marty & Raphaele Preget, 2007. "A Socio-economic Analysis of French Public Timber Sales," Working Papers - Cahiers du LEF 2007-03, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.
    2. Orley Ashenfelter & Kathryn Graddy, 2002. "Art Auctions: A Survey of Empirical Studies," Working Papers 121, Princeton University, Department of Economics, Center for Economic Policy Studies..
    3. Orley Ashenfelter & Kathryn Graddy, 2003. "Auctions and the Price of Art," Journal of Economic Literature, American Economic Association, vol. 41(3), pages 763-787, September.
    4. Mezzetti, Claudio, 2008. "Aversion to Price Risk and the Afternoon Effect," The Warwick Economics Research Paper Series (TWERPS) 857, University of Warwick, Department of Economics.
    5. Onur A. Koska & Frank Stähler, 2017. "When should bidders learn reserve prices?," ERC Working Papers 1712, ERC - Economic Research Center, Middle East Technical University, revised Oct 2017.
    6. Stephanie Rosenkranz & Patrick W. Schmitz, 2007. "Reserve Prices in Auctions as Reference Points," Economic Journal, Royal Economic Society, vol. 117(520), pages 637-653, April.
    7. Brisset, Karine & Cochard, François & Le Gallo, Julie, 2015. "Secret versus public reserve price in an “outcry” English procurement auction: Experimental results," International Journal of Production Economics, Elsevier, vol. 169(C), pages 285-298.
    8. Eklof, Matias & Lunander, Anders, 2003. "Open outcry auctions with secret reserve prices: an empirical application to executive auctions of tenant owner's apartments in Sweden," Journal of Econometrics, Elsevier, vol. 114(2), pages 243-260, June.
    9. Rosar, Frank, 2014. "Secret reserve prices in first-price auctions," International Journal of Industrial Organization, Elsevier, vol. 37(C), pages 65-74.
    10. Bougt, Daniel & Ghosh, Gagan & Liu, Heng, 2023. "Identification of interdependent values in sequential first-price auctions," International Journal of Industrial Organization, Elsevier, vol. 91(C).
    11. Rosato, Antonio, 2014. "Loss Aversion in Sequential Auctions: Endogenous Interdependence, Informational Externalities and the "Afternoon Effect"," MPRA Paper 56824, University Library of Munich, Germany.
    12. Xinyan Shi, 2013. "Common-value auctions with asymmetrically informed bidders and reserve price," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(2), pages 161-175, June.
    13. Tibor Neugebauer & Paul Pezanis-Christou, 2003. "Bidding at Sequential First-Price Auctions with(out) Supply Uncertainty: A Laboratory Analysis," UFAE and IAE Working Papers 558.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    14. Elyakime, Bernhard & Loisel, Patrice, 2005. "An optimal standing timber auction?," Journal of Forest Economics, Elsevier, vol. 11(2), pages 107-120, September.
    15. Onur A. Koska & Frank Stähler, 2022. "Reserve Prices as Signals," Working Papers in Economics 22/10, University of Canterbury, Department of Economics and Finance.
    16. Pasha Andreyanov & El Hadi Caoui, 2022. "Secret reserve prices by uninformed sellers," Quantitative Economics, Econometric Society, vol. 13(3), pages 1203-1256, July.
    17. Dejan Trifunovic, 2014. "Sequential Auctions And Price Anomalies," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(200), pages 7-42, January –.
    18. El Hadi Caoui & Gérard Marty, 2023. "Random drawing in sequential auctions: investigating the role of a market device in timber sales," Review of Agricultural, Food and Environmental Studies, Springer, vol. 104(2), pages 101-122, June.
    19. Audrey Hu & Liang Zou, 2016. "Sequential Auctions with Generalized Interdependent Values," Tinbergen Institute Discussion Papers 16-016/I, Tinbergen Institute.
    20. Eda Gülşen & Erdal Özmen, 2017. "Monetary Policy Trilemma, Inflation Targeting And Global Financial Crisis," ERC Working Papers 1714, ERC - Economic Research Center, Middle East Technical University, revised Nov 2017.

    More about this item

    Keywords

    ENCHERES DE BOIS; PRIX HEDONISTES; INVENDUS;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • L73 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Forest Products
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01072444. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.