Narrow search
Showing 1 - 5 of 5
Cover Image
Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing?
Cramton, Peter; Kahn, Alfred E.; Porter, Robert H.; … - University of Maryland, Department of Economics - Peter … - 2001
Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition...
Persistent link: https://www.econbiz.de/10004988756
Cover Image
Package Bidding for Spectrum Licenses
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
Cover Image
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
Cover Image
Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond
Cramton, Peter; Kahn, Alfred E.; Porter, Robert H.; … - University of Maryland, Department of Economics - Peter … - 2001
Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition...
Persistent link: https://www.econbiz.de/10004988794
Cover Image
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