Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management

Flambard, Véronique, Lasserre, Pierre and Mohnen, Pierre (2004). Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management. UNU-MERIT Research Memoranda. UNU-MERIT.

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  • Sub-type Working paper
    Author Flambard, Véronique
    Lasserre, Pierre
    Mohnen, Pierre
    Title Snow Removal Auctions in Montreal: Costs, Informational Rents, and Procurement Management
    Series Title UNU-MERIT Research Memoranda
    Volume/Issue No. 23
    Publication Date 2004
    Place of Publication Maastrich
    Publisher UNU-MERIT
    Pages 34
    Language eng
    Abstract Using semiparametric and nonparametric estimation techniques we infer cost distributions and informational rents from 457 snow removal contracts o__ered 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, and rents increase with the variance of costs. Bids and costs have decreased over the sample period while rents remained relatively constant. The City deserves credit for these results, as it has succeeded in exploiting economies of scale and triggering innovations while maintaining competition. Further, it has been successful in adjusting its reserve prices to keep up with the decreasing cost of snow removal.
    Copyright Holder UNU-MERIT
    Copyright Year 2004
    Copyright type All rights reserved
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    Created: Fri, 13 Dec 2013, 12:39:53 JST