This paper gives an account of events, and explains some systematic reasons of the UMTS auction flop in Switzerland … to import some keyingredients of the auction design employed in Germany and Austria. This would have assured higher …

their bids in the closing minutes or seconds of an auction. Late bids of this sort are much less frequent in auctions that … show that sniping in a fixed deadline auction can occur even at equilibrium in auctions with private values, as well as in … that apply the automatic extension rule. The strategic differences in the auction rules are reflected in the field data …

I extend multi-unit auction estimation techniques to a setting in which firms can express cost complementarities over … time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate …

We analyze a divisible good uniform-price auction that features two groups each with a finite number of identical …

research has found that auctions have an influence on the market yield days before they take place, and underpricing is usually … deeper and more accurately these two findings by taking Italy as a case study. Our results question the so-called auction … cycle and do not signal underpricing when a perfect matching between the auctioned bond and the market quote used is ensured. …

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

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 …

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 …