Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223435
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dc.titleSINGAPORE GOVERNMENT LAND SALES AND WINNER'S CURSE
dc.contributor.authorHO FUK KIN
dc.date.accessioned2017-12-11T09:43:13Z
dc.date.accessioned2022-04-22T20:33:21Z
dc.date.available2019-09-26T14:14:11Z
dc.date.available2022-04-22T20:33:21Z
dc.date.issued2017-12-11
dc.identifier.citationHO FUK KIN (2017-12-11). SINGAPORE GOVERNMENT LAND SALES AND WINNER'S CURSE. ScholarBank@NUS Repository.
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/223435
dc.description.abstractThis thesis aims to uncover how bidders can minimize the effects of the “winner’s curse” under the Singapore Government Land Sales (GLS) context as this area of research has been less established empirically. A sample of 349 auctioned land parcels between 2000 and 2016 were gathered to conduct the analysis of the success and the post bidding behavior of the auction participants along with “winner’s curse” across different property sectors, locations and time frames. Subsequently, the analysis of post profits was executed to examine the post financial performance of the successful bidders to investigate the presence of “winner’s curse”. Through the empirical analysis, several interesting findings were made. Firstly, 38.32% of successful bidders suffered from reduced post auction profits. Additionally, 18.04% observed experienced a negative effect on their post profits due to overbidding while the remaining 20.38% represents the persistent effect of substandard companies who continue to suffer from poor performance despite making the right decisions. Secondly, there is a negative effect between the number of bids and “winner’s curse”. Lastly, there is a strong positive relationship between “winner’s curse” and the winning bidder’s overestimation of the common value of the auctioned item. To conclude, “winner’s curse” is a genuine issue that exist in Singapore GLS. Hence, to address this issue, this thesis identifies two bidding strategies to minimize the effects of “winner’s curse” - by participating in auctions with more competitors and where the common value of the auctioned item is high.  
dc.language.isoen
dc.sourcehttps://lib.sde.nus.edu.sg/dspace/handle/sde/4109
dc.subjectReal Estate
dc.subjectCristian Badarinza
dc.subjectWinner's Curse
dc.subjectGovernment Land Sales
dc.subjectRE
dc.subject2017/2018 RE
dc.typeDissertation
dc.contributor.departmentREAL ESTATE
dc.contributor.supervisorCRISTIAN BADARINZA
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF SCIENCE (REAL ESTATE)
dc.embargo.terms2017-12-28
Appears in Collections:Bachelor's Theses

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