Dieser Diskussionsbeitrag kommentiert Güths axiomatische Begründung der Zweit-Preis-Auktion. In diesem Zusammenhang … wird auch Güths umfangreiche Analyse der Lambda-Auktion durch eine einfache und anschaulich interpretierbare Lösung ersetzt …

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 …

paper examines the impact of more general school-based vocational training (Sweden) and more specific apprenticeship …

exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows …