Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.tra.2003.12.002
Title: Expectations formation and forecasting of vehicle demand: An empirical study of the vehicle quota auctions in Singapore
Authors: Chu, S.-F. 
Koh, W.T.H.
Tse, Y.K.
Keywords: Expectations formation
Learning
Quota licenses
Vehicle demand
Issue Date: 2004
Source: Chu, S.-F., Koh, W.T.H., Tse, Y.K. (2004). Expectations formation and forecasting of vehicle demand: An empirical study of the vehicle quota auctions in Singapore. Transportation Research Part A: Policy and Practice 38 (5) : 367-381. ScholarBank@NUS Repository. https://doi.org/10.1016/j.tra.2003.12.002
Abstract: This paper studies expectations formation and forecasting of vehicle demand in Singapore under the vehicle quota system. Under the system, a car buyer must first bid for a vehicle license in monthly auctions in order to purchase a new car. We construct an econometric model to test the hypothesis that past bid distributions of the license auctions contain information that car buyers can use to update their expectations about the intensity of market demand, forecast license premiums and formulate their bidding strategies in future auctions. Our empirical analysis indicates that past bid distributions have a good degree of predictive power for the vehicle license premiums. © 2004 Elsevier Ltd. All rights reserved.
Source Title: Transportation Research Part A: Policy and Practice
URI: http://scholarbank.nus.edu.sg/handle/10635/44047
ISSN: 09658564
DOI: 10.1016/j.tra.2003.12.002
Appears in Collections:Staff Publications

Show full item record
Files in This Item:
There are no files associated with this item.

SCOPUSTM   
Citations

5
checked on Dec 7, 2017

WEB OF SCIENCETM
Citations

4
checked on Nov 23, 2017

Page view(s)

41
checked on Dec 11, 2017

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.