Auctioning Public Assets: Analysis and Alternatives

Governments own many assets that are of genuine importance to society and that, for one reason or another, they do not want to exploit on their own. It can use auctions, Beauty Contests, first-come-first-served, grandfather rights and lotteries, to mention just a few of the most common allocation mechanisms. Grandfather rights are conservative in nature: they basically determine that the company which has used the asset in the past will continue to use it (unless it has badly performed). Grandfather rights are typically used to allocate airport slots. 1 10 Maarten Janssen Scoring the alternative mechanisms on the other objectives mentioned above, we also get a picture that tends to favour auctions. Withjin the EUR IP-range, the full-text of this book is available through NetLibrary (http://www.netlibrary.com/Details.aspx)

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