Winner's curse in toll road concessions

Laure Athias and Antonio Nuñez

Economics Letters, 2008, vol. 101, issue 3, 172-174

Abstract: 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.

Keywords: Auctions; Common; value; Winner's; curse; Incomplete; contracts; Concessions (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (20)

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Working Paper: Winner's curse in toll road concessions (2008)
Working Paper: Winner's curse in toll road concessions (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:101:y:2008:i:3:p:172-174

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