Auctions for Transferable Objects: Theory and Evidence from the Vehicle Quota System in Singapore

• Main Authors: LEE, David K. C., KOH, Winston T. H.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 1993
• 主題: Auctions; Bidders; Resale value; Vehicles; Singapore; Asian Studies; Economics; Finance and Financial Management
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/3374; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4373/viewcontent/AuctionsVehicleQuotaSysSingapore_1993.pdf

This paper studies the hypothesis that auctions with resale markets result in higher prices. The vehicle quota system introduced in Singapore in May 1990 provides the setting. The Certificates of Entitlement (COEs) necessary to purchase new cars were initially transferable for all quota categories....