This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger … and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction …

The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …

considerations. It addresses the problems of finding the auction that yields the greatest expected revenues to the auctioneer and …) auctions are analysed. The analysis focuses on the strategic aspect of the bidding process, i.e. the game-theoretic auction …

This paper gives an account of events, and explains some systematic reasons of the UMTS auction flop in Switzerland …. Apart from general market developments, which could not have been anticipated, we argue that auction design which was … to import some key ingredients of the auction design employed in Germany and Austria. This would have assured higher …

This study examines bidder preferences between alternative auction institutions. In particular we seek to … experimentally characterize the degree to which bidders prefer an ascending auction over a sealed bid auction. We find very strong … to pay far more to enter the ascending auction than is explainable by their risk attitudes when accounting for their …

We compare the standard one-bid first price auction to a corresponding two-bid first price auction where each buyer may … the two mechanisms for the symmetric case. We show that subjects in a computerized experiment prefer the two-bid auction … over the one-bid auction when given the possibility of choosing among the two and we claim that this and other aspects of …