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, PierreTitle 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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