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Control of vehicle ownership and market competition: theory and Singapore's experience with the vehicle quota system

  • Koh, Winston T. H.

This paper studies the impact of vehicle quota system on the market structure of Singapore's car distributorship industry. Using recently available data, we analyzed the populations and new registrations of different brands of passenger car and motorcycle. We found an increase in market concentration in the car distributorship industry, as the market shares of the top distributors have increased steadily, even though the annual growth rate of vehicle population is capped at 3% per annum. We also found that average dealership markups for passenger cars for the period August-September 2002 are similar to those reported in earlier studies. We relate these empirical findings to a theoretical model of a differentiated-good oligopoly operating under an industry sales constraint.

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

Volume (Year): 37 (2003)
Issue (Month): 9 (November)
Pages: 749-770

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Handle: RePEc:eee:transa:v:37:y:2003:i:9:p:749-770
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  1. 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.
  2. Ling Hui Tan, 2003. "Rationing Rules and Outcomes: The Experience of Singapore's Vehicle Quota System," IMF Staff Papers, Palgrave Macmillan, vol. 50(3), pages 5.
  3. 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.
  4. Phang, Sock-Yong & Wong, Wing-Keung & Chia, Ngee-Choon, 1996. "Singapore's experience with car quotas : Issues and policy processes," Transport Policy, Elsevier, vol. 3(4), pages 145-153, October.
  5. Riley, John G & Samuelson, William F, 1981. "Optimal Auctions," American Economic Review, American Economic Association, vol. 71(3), pages 381-92, June.
  6. Willoughby, C., 2001. "Singapore's motorization policies 1960-2000," Transport Policy, Elsevier, vol. 8(2), pages 125-139, April.
  7. 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.
  8. Olszewski, Piotr & Fan, Henry S. L. & Tan, Yan-Weng, 1995. "Area-wide traffic speed-flow model for the Singapore CBD," Transportation Research Part A: Policy and Practice, Elsevier, vol. 29(4), pages 273-281, July.
  9. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
  10. Chin, Anthony & Smith, Peter, 1997. "Automobile ownership and government policy: The economics of Singapore's vehicle quota scheme," Transportation Research Part A: Policy and Practice, Elsevier, vol. 31(2), pages 129-140, March.
  11. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November.
  12. Z.F. Li, Michael, 1999. "Estimating congestion toll by using traffic count data -- Singapore's area licensing scheme," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 35(1), pages 1-10, March.
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