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Competition in online land lease auctions in Ukraine: Reduced-form estimation
Land Use Policy ( IF 6.189 ) Pub Date : 2022-11-24 , DOI: 10.1016/j.landusepol.2022.106481
Olena Myrna

An innovative pilot project to facilitate the transparent transfer of rental rights for publicly owned agricultural land via an ascending-price online auction was launched in Ukraine in October 2018. This paper analyses publicly disclosed auction data and investigates how competition, auction design characteristics, and farmland-specific properties influenced the auction outcomes. This information is factored into the probability of the plot being rented (i.e. auction success) and the size of the winning bid (i.e. rental rates). The analysis was conducted using an independent private values framework, employing a mixed-effects model with sample selection. Estimation results confirmed that a higher number of bidders and more active bidding lead to a significantly greater probability of auction success and higher rental rates.



中文翻译:

乌克兰在线土地租赁拍卖的竞争:简化形式的估计

2018 年 10 月,乌克兰启动了一项创新试点项目,通过提价在线拍卖促进公有农地租赁权的透明转让。本文分析了公开披露的拍卖数据,并调查了竞争、拍卖设计特征和农田-特定属性影响了拍卖结果。此信息被计入地块被出租的概率(即拍卖成功)和中标的大小(租金)。该分析是使用独立的私人价值观框架进行的,采用了带有样本选择的混合效应模型。估算结果证实,更多的投标人和更积极的投标导致拍卖成功的可能性显着增加,租金也更高。

更新日期:2022-11-26
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