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licenses were offered simultaneously. This paper describes the auction rules and how bidders prepared for the auction. The full … million for ten licenses. The auction was viewed by all as a huge success-an excellent example of bringing economic theory to …
Persistent link: https://www.econbiz.de/10004988742
£22.5 billion for five third-generation (3G) mobile wireless licenses. This paper assesses how well the UK 3G spectrum …
Persistent link: https://www.econbiz.de/10004988743
with getting the best price for the stock- holders at a sale of the company." The Delaware courts' preference for auctions …. Second, auctions maximize shareholder returns. The two premises together imply that a target's board should conduct an …
Persistent link: https://www.econbiz.de/10004988744
tradable and bankable. The government would conduct quarterly auctions. A standard ascending-clock auction in which price is …
Persistent link: https://www.econbiz.de/10004988745
-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
In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by …
Persistent link: https://www.econbiz.de/10004988747
Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is not surprising that such behavior is observed in electricity markets. This incentive to bid above marginal cost is not the result of coordinated action among the bidders. Rather, each...
Persistent link: https://www.econbiz.de/10004988748
ISO New England proposes reserve markets designed to improve the existing forward reserve market and improve pricing during real-time reserve shortages. We support all of the main elements of the proposal. For example, we agree that little is gained by allowing reserve availability bids in the...
Persistent link: https://www.econbiz.de/10004988750
The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid … on numerous communication licenses simultaneously, with bidding remaining open on all licenses until no bidder is willing … send messages to their rivals, telling them on which licenses to bid and which to avoid. These strategies can help bidders …
Persistent link: https://www.econbiz.de/10004988751
A key question of auction design is whether to use an ascending- bid or a sealed-bid format. The critical distinction between formats is that an ascending auction provides the bidders with information through the process of bidding. This information is a two-edged sword. It may stimulate...
Persistent link: https://www.econbiz.de/10004988752