intrinsic spectrum values from winning auction bids. Our analysis includes 15 auctions and close to 7,200 observations. We add … two components to previous literature on this topic. First, we control for license and block specific auction rules … winning bids. Additionally, auction results confirm that the relative value of higher frequency spectrum is increasing over …

policy risk. Yet most end investors place their Treasury auction bids through an intermediary rather than submit them …, information aggregators increase expected auction revenue but also make the revenue more sensitive to changes in asset value. We …

timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and … incorporates both differential information and the fact that bids placed in timber auctions are multidimensional. The theory …