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Allocation flexibility and price efficiency within Singapore’s Vehicle Quota System

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  • Chu, Singfat
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    Abstract

    Permit or license plate quotas are highly effective albeit controversial policy tools for managing growth in the vehicle population and thereby, adverse traffic congestion. A judicious distribution of the scarce permits that targets the dual objectives of price efficiency and social diversity in vehicle ownership can however mitigate the controversy. This paper scrutinizes the attainment levels of these two objectives within Singapore’s multi-categorical Vehicle Quota System in two time periods (1991–1998 and 2002–2011) which differ in the number of permit allocation categories, the auction format used (sealed versus open bids) and in the frequency of distribution (monthly versus semimonthly). The lessons derived are contrasted to the other two jurisdictions which have also implemented quotas on their vehicle registrations namely, Shanghai and Beijing.

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    Bibliographic Info

    Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

    Volume (Year): 46 (2012)
    Issue (Month): 10 ()
    Pages: 1541-1550

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    Handle: RePEc:eee:transa:v:46:y:2012:i:10:p:1541-1550

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    Related research

    Keywords: Vehicle Quota System; Vehicle permit; License plate; Efficiency; Certificate of entitlement;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Paul Klemperer, 1999. "Auction Theory: A Guide to the Literature," Microeconomics 9903002, EconWPA.
    2. Phang, Sock-Yong, 1993. "Singapore's motor vehicle policy: Review of recent changes and a suggested alternative," Transportation Research Part A: Policy and Practice, Elsevier, vol. 27(4), pages 329-336, July.
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    6. Singfat Chu, 2011. "Sealed v/s open bids for certificates of entitlement under the vehicle quota system in Singapore," Transportation, Springer, vol. 38(2), pages 215-226, March.
    7. Fu-Tie Song & Wei-Xing Zhou, 2010. "Analyzing the prices of the most expensive sheet iron all over the world: Modeling, prediction and regime change," Papers 1001.3176, arXiv.org.
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    13. Barter, Paul A., 2005. "A vehicle quota integrated with road usage pricing: A mechanism to complete the phase-out of high fixed vehicle taxes in Singapore," Transport Policy, Elsevier, vol. 12(6), pages 525-536, November.
    14. Chu, Singfat, 2002. "Auctioning rights to vehicle ownership: Singapore's experience with sealed-bid tenders," Transportation Research Part A: Policy and Practice, Elsevier, vol. 36(6), pages 555-561, July.
    15. Song, Fu-Tie & Zhou, Wei-Xing, 2010. "Analyzing the prices of the most expensive sheet iron all over the world: Modeling, prediction and regime change," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(17), pages 3538-3545.
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