allocation rules (first vs. second price auction vs. fair division game). The data analysis of the sealed-bid, private value …

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 auction. Messages are primarily used to reduce the asymmetric information associated with transactions …

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 ….In particular it is shown that the low price equilibrium that implements the efficient allocation is the unique perfect equilibrium …

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 …