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Cramton, Peter; McMillan, John; Milgrom, Paul; Miller, … - University of Maryland, Department of Economics - Peter … - 1997

licenses. While these rules have performed well in the auctions conducted so far (and would perform even better with the design … individual-license pricing when licenses are complementary. In simultaneous ascending-price auctions, from a bidder's perspective …

Persistent link: https://www.econbiz.de/10004988763

Simultaneous Ascending Auctions with Package Bidding

Cramton, Peter; McMillan, John; Milgrom, Paul; Miller, … - University of Maryland, Department of Economics - Peter … - 1998

An effective package bidding mechanism addresses three problems: the exposure problem (the risks a bidder faces in trying to construct an efficiently large combination of licenses), the free-rider problem (the difficulties small bidders have in beating those who bid for larger packages of...

Persistent link: https://www.econbiz.de/10004988793

Auction Design Enhancements for Non-Combinatorial Auctions

Cramton, Peter; McMillan, John; Milgrom, Paul; Miller, … - University of Maryland, Department of Economics - Peter … - 1997

We evaluate a number of possible enhancements to the FCC auctions. We consider only changes to the current auction … summarizes and extends our e-mail exchanges with FCC staff on this topic. A subsequent report will cover auctions with … combination bids. Overall, the FCC spectrum auctions have been an enormous success. However, there are two design goals in the …

Persistent link: https://www.econbiz.de/10004988797

The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry

Cramton, Peter; Skrzypacz, Andrzej; Wilson, Robert - University of Maryland, Department of Economics - Peter … - 2007

Persistent link: https://www.econbiz.de/10004997793

Economist Letter to NTIA on 700 MHz Spectrum Auction

Cramton, Peter; Skrzypacz, Andrzej; Wilkie, Simon; … - University of Maryland, Department of Economics - Peter … - 2007

auctions and the impact of various rules on auction revenues. …

Persistent link: https://www.econbiz.de/10004997798

Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction

Cramton, Peter; Ausubel, Lawrence M.; Filiz-Ozbay, Emel; … - University of Maryland, Department of Economics - Peter … - 2009

. Securities that are widely held are purchased in auctions for individual securities. Securities with concentrated ownership are … of each security. We study bidding behavior and performance of sealed-bid uniform-price auctions and dynamic clock … auctions. The clock and sealed-bid auctions resulted in similar prices. However, the clock auctions resulted in substantially …

Persistent link: https://www.econbiz.de/10004997800

Revenues in the 700 MHz Spectrum Auction

Cramton, Peter; Skrzypacz, Andrzej; Wilson, Robert - University of Maryland, Department of Economics - Peter … - 2007

There have been several comments that criticize auction rules that prevent the two major low-frequency incumbents from winning all of the newly available spectrum and incorporating it into their proprietary networks. Such rules include new-entrant set-asides, new-entrant bidding credits, and the...

Persistent link: https://www.econbiz.de/10004997802

Economic Comments on the Design of the 700 MHz Spectrum Auction

Cramton, Peter; Skrzypacz, Andrzej; Wilson, Robert - University of Maryland, Department of Economics - Peter … - 2007

We comment on the service and auction rules discussed in the Report and Order and Further Notice of Proposed Rule Making, FCC 07-72, 27 April 2007. We recommend that the FCC designate one license for a wholesale operation that provides open access nationwide on nondiscriminatory terms. This is...

Persistent link: https://www.econbiz.de/10004997813

Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73

Cramton, Peter; Rosston, Gregory; Skrzypacz, Andrzej; … - University of Maryland, Department of Economics - Peter … - 2007

Persistent link: https://www.econbiz.de/10004997817

Fear of Losing in a Clock Auction

Cramton, Peter; Filiz-Ozbay, Emel; Ozbay, Erkut; … - University of Maryland, Department of Economics - Peter … - 2012

We examine bidding behavior in a clock auction in which price is set by the lowest-accepted bid and provisional winners are reported each round (the LABpw auction). This format was used in the India 3G spectrum auction. In the standard theory, the auction performs poorly. In particular it yields...

Persistent link: https://www.econbiz.de/10010575705