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Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2012

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

Auctioning Securities

Cramton, Peter; Ausubel, Lawrence M. - University of Maryland, Department of Economics - Peter … - 1997

-bid auctions. The Vickrey auction and the alternative ascending-bid auction (Ausubel 1996) have important theoretical advantages … for sellers. In a setting without private information, these auctions achieve the maximal revenue as a unique equilibrium …

Persistent link: https://www.econbiz.de/10004988746

Demand Reduction and Inefficiency in Multi-Unit Auctions

Cramton, Peter; Ausubel, Lawrence M. - University of Maryland, Department of Economics - Peter … - 1995

Auctions typically involve the sale of many related goods. The FCC spectrum auctions and the Treasury debt auctions are … winnings. This incentive creates an inefficiency in multi-unit auctions. Large bidders reduce demand for additional units and …-your-bid pricing. We also establish that the ranking of the uniform-price and pay-your-bid auctions is ambiguous. We show how a Vickrey …

Persistent link: https://www.econbiz.de/10004988783

A Review of the L-Band Auction

Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2008

In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The auction used an innovative format intended to encourage an efficient assignment of the 17 lots. Eight bidders competed for the lots. In sharp contrast to the first combinatorial clock...

Persistent link: https://www.econbiz.de/10004997807

Spectrum Auction Design

Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2009

Spectrum auctions are used by governments to assign and price licenses for wireless communications. The standard …. I analyze the strengths and weaknesses of the approach with examples from US spectrum auctions. I then present a … tests and early auctions confirm the advantages of the approach. …

Persistent link: https://www.econbiz.de/10004997818

A Review of the 10-40 GHz Auction

Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2008

In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction. The auction used an innovative format intended to encourage an efficient assignment of the 27 lots. Each of the ten bidders won one or more lots. All 27 lots were assigned. This note...

Persistent link: https://www.econbiz.de/10004997820

Quadratic Core-Selecting Payment Rules for Combinatorial Auctions

Cramton, Peter; Day, Robert - University of Maryland, Department of Economics - Peter … - 2008

We report on the use of a quadratic programming technique in recent and upcoming spectrum auctions in Europe …

Persistent link: https://www.econbiz.de/10004997825

Auctioning the Digital Dividend

Cramton, Peter - University of Maryland, Department of Economics - Peter … - 2009

I begin by describing some of the problems of the simultaneous ascending auction. Then I present the package clock auction, which retains the benefits, while addressing the weaknesses, of the simultaneous ascending auction. I emphasize two essential elements of the package clock auction: the...

Persistent link: https://www.econbiz.de/10004997826

Activity Rules for the Combinatorial Clock Auction

Cramton, Peter; Ausubel, Lawrence M. - University of Maryland, Department of Economics - Peter … - 2012

CCA to spectrum auctions have tended to place most or all reliance on a monotonicity condition in eligibility points. This …

Persistent link: https://www.econbiz.de/10010575702

Using Spectrum Auctions to Enhance Competition in Wireless Services

Cramton, Peter; Kwerel, Evan; Rosston, Gregory; … - University of Maryland, Department of Economics - Peter … - 2012

Spectrum auctions are used by governments to assign and price licenses for wireless communications. Effective auction …

Persistent link: https://www.econbiz.de/10010575720