seconds of an auction, knowing that bids arriving after the closure of the auction are not counted. They also bid several … times at the same auction. We model Internet auction as a dynamic multi-unit auction. This let us explain the rationality of …

-unit, multi-bid uniform auction, modelled as a Bayesian game of incomplete information. At the auction each firm anticipates his … as their bidding strategies and it precludes the auction from generating a cost-effective allocation of permits, as it … would occur in simpler auction models. Auctioning tends to be more cost-effective than grandfathering when the firms' costs …

asymmetric information, clearly identify the expected value of the spectrum, to be used to set auction bases, prices in beauty …

ensuing auction, leading to loss of efficiency and eliminating the revenue dominance typically observed in firstprice auctions. …