A buyer with downward sloping demand faces a number of unit-supply sellers. This paper characterizes optimal auctions in this setting. For the symmetric case, a uniform auction (with price equal to lowest rejected offer) is optimal whencomplemented with reserve prices for different quantities...

I study the allocation of licenses to operate an oligopolistic market characterized by high demand uncertainty. The model is motivated by recent experiences of spectrum licensing for new telecommunication technologies. Demand is uncertain at the time of investment (roll-out). Firms rely on...