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首页> 外文期刊>The Review of Economic Studies >Better Lucky Than Rich? Welfare Analysis of Automobile Licence Allocations in Beijing and Shanghai
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Better Lucky Than Rich? Welfare Analysis of Automobile Licence Allocations in Beijing and Shanghai

机译：更幸运而不是富人？ 北京与上海汽车许可分配的福利分析

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摘要

Economists often favour market-based mechanisms over non-market based mechanisms to allocate scarce public resources on grounds of economic efficiency and revenue generation. When the usage of the resources in question generates type-dependent negative externalities, the welfare comparison can become ambiguous. Both types of allocation mechanisms are being implemented in China's major cities to distribute limited vehicle licences as a measure to combat worsening traffic congestion and air pollution. While Beijing employs non-transferable lotteries, Shanghai uses an auction system. This article empirically quantifies the welfare consequences of the two mechanisms by taking into account both allocation efficiency and automobile externalities post-allocation. Our analysis shows that different allocation mechanisms lead to dramatic differences in social welfare. Although Beijing's lottery system has a large advantage in reducing automobile externalities over auction, the advantage is offset by the significant allocative cost from misallocation. The lottery system in Beijing resulted in a social welfare loss of 30 billion Yuan (nearly $5 billion) in 2012 alone. A uniform-price auction would have generated nearly 20 billion Yuan to Beijing municipal government, more than covering all its subsidies to the local public transit system.
机译：经济学家往往有利于以非市场为基础的机制基于基于市场的机制，以根据经济效率和收入产生稀缺的公共资源。当相关资源的使用产生类型相关的负外部性时，福利比较可能会变得模糊。在中国的主要城市中正在实施两种类型的分配机制，以将有限的车辆许可证分配为对抗交通拥堵和空气污染的措施。虽然北京雇用不可转让的彩票，但上海使用拍卖系统。本文通过考虑分配效率和分配后的汽车外部性，经验证明了两种机制的福利后果。我们的分析表明，不同的分配机制导致社会福利的巨大差异。虽然北京的彩票系统在减少汽车外部性拍卖中具有很大的优势，但优势是通过误放大的显着分配成本抵消。北京的彩票系统仅导致2012年社会福利亏损30亿元（近50亿美元）。统一价格拍卖将向北京市政府产生近200亿元，而不是将其所有补贴覆盖到当地公共交通系统。

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