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 …

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 …

games the object is owned by the group of bidders. Consequently the auction's revenue is equally distributed among all … bidders. In our experiment participants face four auction types (first versus second price - auction versus fair division game …

allocation rules (first vs. second price auction vs. fair division game). The data analysis of the sealed-bid, private value …

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 …

The second–generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in … a simultaneous ascending-bid auction. The present paper gives an account of the events, describes the auction rules and …

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 …

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