auctions, equilibrium bids exceed bidders’ valuations, and bidders raise their bids when one moves to a higher price auction …

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market …

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 …

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 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 …, yet is less susceptible to preemptive bidding and collusion. -- Auctions …

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 …