| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26904 |
| 来源ID | Working Paper 26904 |
| The Dynamic Efficiency in Resource Allocation: Evidence from Vehicle License Lotteries in Beijing | |
| Youming Liu; Shanjun Li; Caixia Shen | |
| 发表日期 | 2020-03-30 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The efficiency of resource allocation is often analyzed in static frameworks with a focus on the cross-sectional heterogeneity in the willingness to pay among users. When the resource is durable in nature, the temporal heterogeneity could be important in assessing the efficiency properties of different allocation mechanisms. This paper uses a dynamic model to empirically quantify the efficiency outcome of using lotteries to allocate scarce resources among forward-looking consumers. In the context of the lottery policy for vehicle licenses in Beijing, our analysis shows that lotteries significantly affect intertemporal decisions in that households participate in lotteries at least four years earlier on average than they would be in a counterfactual environment of no quantity constraint. The welfare loss due to temporal heterogeneity and resulting changes in participation decisions accounts for over half of the total welfare loss from the lottery policy. The analysis highlights the importance of taking dynamic efficiency into account in designing resource allocation mechanisms. |
| 主题 | Industrial Organization ; Regulatory Economics ; Industry Studies ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w26904 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584577 |
| 推荐引用方式 GB/T 7714 | Youming Liu,Shanjun Li,Caixia Shen. The Dynamic Efficiency in Resource Allocation: Evidence from Vehicle License Lotteries in Beijing. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26904.pdf（3666KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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