Winner's curse in toll road concessions
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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- Bulow, Jeremy & Klemperer, Paul, 1996. "Auctions versus Negotiations," American Economic Review, American Economic Association, vol. 86(1), pages 180-94, March.
- Laffont,Jean-Jacques, 2005.
"Regulation and Development,"
Cambridge University Press, number 9780521549486, June.
- Milgrom, Paul R & Weber, Robert J, 1982.
"A Theory of Auctions and Competitive Bidding,"
Econometric Society, vol. 50(5), pages 1089-1122, September.
- J. Luis Guasch & Jean-Jacques Laffont & Stephane Straub, 2003.
"Renegotiation of Concession Contracts in Latin America,"
ESE Discussion Papers
103, Edinburgh School of Economics, University of Edinburgh.
- Guasch, J. Luis & Laffont, Jean-Jacques & Straub, Stephane, 2003. "Renegotiation of concession contracts in Latin America," Policy Research Working Paper Series 3011, The World Bank.
- Han Hong & Matthew Shum, 2002. "Increasing Competition and the Winner's Curse: Evidence from Procurement," Review of Economic Studies, Oxford University Press, vol. 69(4), pages 871-898.
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