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Winner's curse in toll road concessions

  • Athias, Laure
  • Nuñez, Antonio

We empirically assess the effect of the winner's curse in auctions for toll road concessions, taking into account, to our knowledge for the first time, problems of commitment and enforcement, using a unique dataset of 49 worldwide road concessions.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4T2M5S9-2/2/ef7b60609b79c9eef6a24d39a095d1e9
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 101 (2008)
Issue (Month): 3 (December)
Pages: 172-174

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Handle: RePEc:eee:ecolet:v:101:y:2008:i:3:p:172-174
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. J. Luis Guasch & Jean-Jacques Laffont & Stephane Straub, 2004. "Renegotiation of Concession Contracts in Latin America," ESE Discussion Papers 103, Edinburgh School of Economics, University of Edinburgh.
  2. Bulow, Jeremy & Klemperer, Paul, 1996. "Auctions versus Negotiations," American Economic Review, American Economic Association, vol. 86(1), pages 180-94, March.
  3. Han Hong & Matthew Shum, 2001. "Increasing Competition and the Winner's Curse: Evidence from Procurement," Economics Working Paper Archive 447, The Johns Hopkins University,Department of Economics.
  4. repec:cup:cbooks:9780521549486 is not listed on IDEAS
  5. repec:cup:cbooks:9780521840187 is not listed on IDEAS
  6. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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