Showing 1 - 10 of 122
The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid … mitigate collusive bidding in the spectrum auctions, and then apply these ideas to the design of daily electricity auctions. …
Persistent link: https://www.econbiz.de/10004988751
This paper describes the signaling that occurred in many of the FCC spectrum auctions. The FCC's simultaneous ascending … auctions allowed bidders to bid on numerous communication licenses simultaneously, with bidding remaining open on all licenses …
Persistent link: https://www.econbiz.de/10004988795
We analyze a model of coalitional bidding in which coalitions form endogenously and compete with each other. Since the nature of this competition influences the way in which agents organize themselves into coalitions, our main aim is to characterize the equilibrium coalition structure and the...
Persistent link: https://www.econbiz.de/10005753268
Most of the literature on collusive behavior in auctions ignores two important issues that make collusion difficult to … auctions where one bidder offers another bidder a side payment in exchange for not participating in the auction, while the … number of other bidders is stochastic. In spite of the barriers to collusion mentioned above, a simple side payment mechanism …
Persistent link: https://www.econbiz.de/10005753320
A proposed auction design for incentive auctions is given. The two-sided auctions enable the exchange of spectrum from …
Persistent link: https://www.econbiz.de/10010878412
Persistent link: https://www.econbiz.de/10010878413
This paper studies sequential auctions of licences to participate in a symmetric market game. Assuming that the rate at …
Persistent link: https://www.econbiz.de/10005370851
We model credit contracting and bidding in a first-price sealed-bid auction when bidder valuation and wealth are private information. An efficient separating equilibrium exists only if the wealth levels of both bidder types are sufficiently different. If not, high-valuation bidders signal by...
Persistent link: https://www.econbiz.de/10005155391
We analyze the implications of different pricing rules in discrete clock auctions. The two most common pricing rules … market; under LAB, the winners pay the highest price that clears the market. Both the HRB and LAB auctions maximize revenues …
Persistent link: https://www.econbiz.de/10008460856
Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and...
Persistent link: https://www.econbiz.de/10008464964