Open vs Sealed Bid Auctions: Testing for Revenue Equivalence under Singapore's Vehicle Quota System

• Main Authors: MARIANO, Roberto S., KOH, Winston T. H., TSE, Yiu Kuen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2007
• Subjects: Asian Studies; Behavioral Economics; Econometrics; Public Affairs, Public Policy and Public Administration; Transportation
• Online Access: https://ink.library.smu.edu.sg/soe_research/25; https://ink.library.smu.edu.sg/context/soe_research/article/1024/viewcontent/Open_vs_sealed_bid_auctions_Singapore_vehicle_quota_system.pdf
• Institution: Singapore Management University

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 l...