The German UMTS Design: Insights From Multi-Object Auction Theory

We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure probelm that caused firms in Germany to pay almost Euro 20 billion for nothing.

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Year of publication:	2001-12-05
Authors:	Moldovanu, Benny ; Ewerhart II, Christian
Institutions:	Sonderforschungsbereich 504 "Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung", Abteilung für Volkswirtschaftslehre ; Sonderforschungsbereich 504, University of Mannheim

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Extent:	application/pdf
Series:	Sonderforschungsbereich 504 Publications.
Type of publication:	Book / Working Paper
Language:	English
Notes:	C. Ewerhart thanks Mathias Meisel, portfolio manager at Zurich Invest, for many insightful discussions concerning the telecommunications industry. B. Moldovanu wishes to acknowledge the long cooperation with Philippe Jehiel. This cooperation has shaped several main ideas in this paper. We also wish to thank the participants at the CES/IFO conference on auctions and telecommunications for their many helpful comments. The text is part of a series sfbmaa Number 02-05 18 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005592912