Strategic sequential bidding for government land auction sales – Evidence from Singapore

• Main Authors: AGARWAL, Sumit, LI, Jing, TEO, Ernie, CHEONG, Alan
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2018
• Subjects: Land Sale Auctions; Strategic Sequential Bidding; Land Price; Housing Price; Product Differentiation; Asian Studies; Public Economics; Real Estate; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/soe_research/2014; https://ink.library.smu.edu.sg/context/soe_research/article/3013/viewcontent/Strategic_sequential_bidding_for_government_land_auction_sales_pp.pdf
• Institution: Singapore Management University

This paper studies the extent to which equilibrium auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in...