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Collusive Bidding: Lessons from the FCC Spectrum Auctions
Cramton, Peter; Schwartz, Jesse - University of Maryland, Department of Economics - Peter … - 2000
The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid … mitigate collusive bidding in the spectrum auctions, and then apply these ideas to the design of daily electricity auctions. …
Persistent link: https://www.econbiz.de/10004988751
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Collusive Bidding in the FCC Spectrum Auctions
Cramton, Peter; Schwartz, Jesse - University of Maryland, Department of Economics - Peter … - 2002
This paper describes the signaling that occurred in many of the FCC spectrum auctions. The FCC's simultaneous ascending … auctions allowed bidders to bid on numerous communication licenses simultaneously, with bidding remaining open on all licenses …
Persistent link: https://www.econbiz.de/10004988795
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Incentive Auctions
Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2012
A proposed auction design for incentive auctions is given. The two-sided auctions enable the exchange of spectrum from …
Persistent link: https://www.econbiz.de/10010878412
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Ökonomik und Design von Kapazitätsmärkten im Stromsektor
Cramton, Peter; Ockenfels, Axel - University of Maryland, Department of Economics - Peter … - 2012
Persistent link: https://www.econbiz.de/10010878413
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Money Out of Thin Air: The Nationwide Narrowband PCS Auction
Cramton, Peter - University of Maryland, Department of Economics - Peter … - 1995
The Federal Communications Commission held its first auction of radio spectrum at the Nationwide Narrowband PCS Auction in July 1994. The simultaneous multiple-round auction, which lasted five days, was an ascending bid auction in which all licenses were offered simultaneously. This paper...
Persistent link: https://www.econbiz.de/10004988742
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Lessons Learned from the UK 3G Spectrum Auction
Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2001
In April of 2000, the Radiocommunications Agency of the United Kingdom completed its first spectrum auction, raising £22.5 billion for five third-generation (3G) mobile wireless licenses. This paper assesses how well the UK 3G spectrum auction did in achieving the Government's objectives.
Persistent link: https://www.econbiz.de/10004988743
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Using Auction Theory to Inform Takeover Regulation
Cramton, Peter; Schwartz, Alan - University of Maryland, Department of Economics - Peter … - 1991
with getting the best price for the stock- holders at a sale of the company." The Delaware courts' preference for auctions …. Second, auctions maximize shareholder returns. The two premises together imply that a target's board should conduct an …
Persistent link: https://www.econbiz.de/10004988744
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Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather
Cramton, Peter; Kerr, Suzi - University of Maryland, Department of Economics - Peter … - 2002
tradable and bankable. The government would conduct quarterly auctions. A standard ascending-clock auction in which price is …
Persistent link: https://www.econbiz.de/10004988745
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Auctioning Securities
Cramton, Peter; Ausubel, Lawrence M. - University of Maryland, Department of Economics - Peter … - 1997
-bid auctions. The Vickrey auction and the alternative ascending-bid auction (Ausubel 1996) have important theoretical advantages … for sellers. In a setting without private information, these auctions achieve the maximal revenue as a unique equilibrium …
Persistent link: https://www.econbiz.de/10004988746
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Deficit Reduction Through Diversity: How Affirmative Action at the FCC Increased Auction Competition
Cramton, Peter; Ayres, Ian - University of Maryland, Department of Economics - Peter … - 1996
In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by …
Persistent link: https://www.econbiz.de/10004988747