This paper presents the results of experiments carried out in two countries, Germany and Bulgaria, and for different … allocation rules (first vs. second price auction vs. fair division game). The data analysis of the sealed-bid, private value … bidding, truthful bidding, decision time, bid adjustments) as well as the efficiency rates and the price expectations. The …

formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …

The second-generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in … a simultaneous ascending-bid auction.The present paper gives an account of the events, describes the auction rules and …

The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …

We analyze a drastic price increase in the German auction market for reserve power, which did not appear to be driven … back to an abuse of the auction’s pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we …

The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …

German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to …