Daglish, Toby C.; Saglam, Yigit; Ho, Phuong - 2022
We model a spectrum auction where firms purchase units to participate in a constrained, multi-product, downstream … market. We use dynamic programming techniques to numerically solve for the optimal bidding strategy in a clock auction. Firms … cost firms may hold up the market, so the auction may be inefficient and generate zero revenue. An auction may be optimal …