During the recent sales of UMTS licenses in Europe some countries used auctions while others resorted to so … argument why beauty contests or negotiations might be dominated by auctions, which is closely linked to the multi …

During the recent sales of UMTS licenses in Europe some countries used auctions while others resorted to so … argument why beauty contests or negotiations might be dominated by auctions, which is closely linked to the multi …

innovation is obtained, auctions licenses to a pool of producers. Each producer has a private valuation for the license and … licenses and the level of research effort implemented by the innovator in two scenarios: free licensing by the innovator vs … of inefficiencies: an excessively high price for licenses and a suboptimal dissemination of knowledge, and an excessively …

obtained, auctions licenses to a pool of producers. Each producer has a private valuation for the license and suffers a … negative externality when a competitor becomes a licensee. We compare the optimal rule for the allocation of licenses and the … inefficiencies: an excessively high price for licenses and a suboptimal dissemination of knowledge, and an excessively low research …

Auctions are the allocation-mechanisms of choice whenever goods and information in markets are scarce. Therefore … comparative statics of welfare versus revenues for auctions with one or more objects and varying numbers of bidders. Depending on …

suppliers. We also compare other common contests, in particular, fixed-prize tournaments and auctions. Like bonus tournaments …, auctions implement the socially optimal diversity, but usually with higher rents for the suppliers. Fixed-prize tournaments … implement insufficient diversity, but may nevertheless be preferred by the buyer to auctions because of lower supplier rents. …