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Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management Author info | Abstract | Publisher info | Download info | Related research | Statistics Véronique Flambard (Economics Department, UQAM)
Pierre Lasserre () (Economics Department, UQAM, GREQAM and CIRANO )
Pierre Mohnen () (Economics Department, UQAM and CIRANO )
Additional information is available for the following
registered author(s):
Using nonparametric estimation techniques adapted from Guerre et al. [2000], we infer cost distributions and informational rents, from 666 snow removal contracts offered for tender by the City of Montreal. Our results are compatible with standard received theory of competitive auctions: there is a positive correlation between costs and bids; rents increase with the variance of costs and decrease with the number of bidders. Bids and costs have decreased over the sample period, while informational rents remained stable. The City deserves credit for these results, as it has succeeded in exploiting economies of scale while maintaining competition.
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Paper provided by Université du Québec à Montréal, Département des sciences économiques in its series Cahiers de recherche du Département des sciences économiques, UQAM with number
20-05.
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Length: 41
Date of creation: Feb 2001Date of revision:
Handle: RePEc:cre:uqamwp:20-05Contact details of provider: Postal: P.O. Box 8888, Downtown Station, Montreal (Canada) Quebec, H3C 3P8 Phone: (514) 987-4114 Fax: (514) 987-8494 Email: Web page: http://www.uqam.ca/economie/ More information through EDIRC
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Keywords: Procurement auction nonparametric estimation informational rents task design municipal contracts Other versions of this item:
Article Paper Véronique Flambard & Pierre Lasserre & Pierre Mohnen, 2004.
"Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management ,"
CIRANO Working Papers
2004s-59, CIRANO.
[Downloadable!] Flambard,Véronique & Lasserre,Pierre & Mohnen ,Pierre, 2004.
"Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management ,"
Research Memoranda
023, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology.
[Downloadable!] Find related papers by JEL classification: D44 - Microeconomics - - Market Structure and Pricing - - - Auctions H40 - Public Economics - - Publicly Provided Goods - - - General
This paper has been announced in the following NEP Reports :
References listed on IDEAS 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.: McAfee, R Preston & McMillan, John, 1987.
"Auctions and Bidding ,"
Journal of Economic Literature ,
American Economic Association, vol. 25(2), pages 699-738, June.
[Downloadable!] (restricted)
Emmanuel Guerre & Isabelle Perrigne & Quang Vuong, 2000.
"Optimal Nonparametric Estimation of First-Price Auctions ,"
Econometrica ,
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Econometrica ,
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[Downloadable!] (restricted)
Other versions: ELYAKIME, Bernard & LAFFONT, Jean-Jacques & LOISEL, Patrice & VUONG, Quang, 1993.
"First-Price Sealed-Bid Auctions with Secret Reservation Prices ,"
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[Downloadable!] (restricted)
Laffont, Jean-Jacques & Vuong, Quang, 1993.
"Structural econometric analysis of descending auctions ,"
European Economic Review ,
Elsevier, vol. 37(2-3), pages 329-341, April.
[Downloadable!] (restricted)
Other versions:
Laffont, J.J. & Vuong, Q., 1992.
"Structural Econometrics Analysis of Descending Auctions ,"
Papers
92.272, Toulouse - GREMAQ.
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[Downloadable!] (restricted)
Paarsch, Harry J., 1992.
"Deciding between the common and private value paradigms in empirical models of auctions ,"
Journal of Econometrics ,
Elsevier, vol. 51(1-2), pages 191-215.
[Downloadable!] (restricted)
Other versions: Powell, James L. & Stoker, Thomas M., 1996.
"Optimal bandwidth choice for density-weighted averages ,"
Journal of Econometrics ,
Elsevier, vol. 75(2), pages 291-316, December.
[Downloadable!] (restricted)
R. Preston McAfee & John McMillan, 1986.
"Bidding for Contracts: A Principal-Agent Analysis ,"
RAND Journal of Economics ,
The RAND Corporation, vol. 17(3), pages 326-338, Autumn.
[Downloadable!] (restricted)
Mireia Jofre-Bonet & Martin Pesendorfer, 2003.
"Estimation of a Dynamic Auction Game ,"
Econometrica ,
Econometric Society, vol. 71(5), pages 1443-1489, 09.
[Downloadable!] (restricted)
Other versions: Hardle, Wolfgang & Tsybakov, A. B., 1993.
"How sensitive are average derivatives? ,"
Journal of Econometrics ,
Elsevier, vol. 58(1-2), pages 31-48, July.
[Downloadable!] (restricted)
Other versions: Guerre, E. & Perrigne, I. & Vuong, Q., 1995.
"Nonparametric Estimation of First-Price Auctions ,"
Papers
9504, Southern California - Department of Economics.
Donald, Stephen G & Paarsch, Harry J, 1993.
"Piecewise Pseudo-maximum Likelihood Estimation in Empirical Models of Auctions ,"
International Economic Review ,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 121-48, February.
[Downloadable!] (restricted)
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