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This paper considers bidder behaviour in the United Kingdom s UMTS spectrum auction. Evidence is reviewed which shows that some bidders in this auction did not bid straightforwardly in accordance with fixed valuations of the licenses. We go on to consider more speculative hypotheses about...
Persistent link: https://www.econbiz.de/10011409209
We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to pay almost Euro 20 billion for nothing.
Persistent link: https://www.econbiz.de/10011409210
In this paper I review the Dutch UMTS-auction that took place in the summer of 2000 and which, in contrast to the UK and German auctions, was generally considered to be a major flop. I analyse the policy process leading to the auction as well as the bidding behaviour in the auction, and provide...
Persistent link: https://www.econbiz.de/10011409958
During the recent sales of UMTS licenses in Europe some countries used auctions while others resorted to so-called Beauty Contests. There seems to be a wide consensus among economists that in these and other contexts like privatisation an auction is the better selling mechanism. However, why...
Persistent link: https://www.econbiz.de/10011409963
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market. The article presents the main assumptions of the first ever spectrum auction in Poland on the basis of materials for … well as implementation of its results. The text is preceded by a short description of the Polish telecommunications market …, especially in terms frequencies owned by the main players on this market, including their joint ventures and capital connec-tions. …
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