Publication Type

Journal Article

Version

Postprint

Publication Date

1-2007

Abstract

Using data from the auction of vehicle quota licenses in Singapore, we study if revenue equivalence holds when the auction format was switched from a sealed-bid format (May 1990 to June 2001) to an open bidding format since July 2001. Our econometric analysis indicates the change in auction format led to a change in bidding behavior. On average, the quota license premium under the open bidding format is about US$1000 (about 7.5% of the Category E license price in June 2001) lower, compared to the forecast level that would have prevailed if there had been no change in the auction format.

Discipline

Asian Studies | Behavioral Economics | Econometrics | Public Affairs, Public Policy and Public Administration | Transportation

Research Areas

Econometrics

Publication

Applied Economics

Volume

39

Issue

1

First Page

125

Last Page

134

ISSN

0003-6846

Identifier

10.1080/00036840500427916

Publisher

Taylor and Francis

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

https://doi.org/10.1080/00036840500427916

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