rights were auctioned by FCC in 1994 in the US. Prior to using auctions for spectrum allocation other methods like … administrative process, lottery and first-come-first serve were widely used. Since FCC's auction a number of countries switched to … auctions for spectrum allocation because of there comparative advantages over other methods. This paper critically analysis the …

We analyze a setting common in privatizations, public tenders, and takeovers in which the ex post efficient allocation …, i.e., the first best, is not implementable. Our first main result is that the open ascending auction is not second best … main result is that the second best can be implemented with a two-round auction used in real-life privatizations. We also …