estimates in auctions. We then look at whether items that fail at auction subsequently return less than items that have not … auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of … the mechanics of the auction system and then organize the remainder of our discussion around two major topics. The first …

public sales and auctions. The entry explores auction rules and techniques within the broader sequence identified above. …

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

A fundamental question regarding the design of electricity markets is whether adding auctions to the continuous … implementation of the 3 pm local auction for quarters in Germany at the European Power Exchange (EPEX SPOT) in December 2014 to … challenges that are linked with a potential implementation of an intraday auction. …

This paper develops an economic argument relating auctions to high marketprices. At the core of the argument is the … claim that market competition andbidding in an auction should be analyzed as part of one game, where the pricingstrategies …