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Fear of Losing in a Clock Auction     Clock auction  Regret  Lowest accepted bid       font style='font-size:12px;'> 2015/9/23
We examine bidding behavior in a clock auction in which price is set by the lowest-accepted bid and provisional winners are reported each round (the LABpw auction). This format was used in the India...
Auction Design Critical for Rescue Plan     Rescue Plan  Design Critical       font style='font-size:12px;'> 2015/9/18
The Treasury proposes to invest $700 billion in mortgage-related securities to resolve the financial crisis, using market mechato determine prices. A well-designed auction process can indeed b...
Using Auction Theory to Inform Takeover Regulation     Takeover Regulation  Auction Theory       font style='font-size:12px;'> 2015/9/18
This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware law, when a potential acquirer makes a serious bid for a target, the target’s Board of Directors is r...
New England’s Forward Capacity Auction     Capacity Auction  price       font style='font-size:12px;'> 2015/9/18
This note provides a brief description of New England’s Forward Capacity Auction (FCA) for the procurement of electricity capacity. The description is based on the 6 March 2006 Settlement Agreemen...
Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is not surprising that such behavior is observed in electricity markets. This incent...
Bidding and Prices in the AWS-3 Auction     AWS-3 Auction  Prices i       font style='font-size:12px;'> 2015/9/18
The FCC’s AWS-3 spectrum auction raised revenues in excess of $44 billion—a new historic high. Our analysis demonstrates that the auction’s results largely line up with the bidding strategies one wo...
The German 4G Spectrum Auction: Design and Behavior     Design and Behavior  Spectrum Auction       font style='font-size:12px;'> 2015/9/18
The 2010 German 4G spectrum auction was an unusually large simultaneous ascending multi-band auction. The bidding was competitive, the final assignment was efficient and the revenue was close to e...
Spectrum Auction Design     Auction Design  price       font style='font-size:12px;'> 2015/9/18
Spectrum auctions are used by governments to assign and price licenses for wireless communications. The standard approach is the simultaneous ascending auction, in which many related lots are auct...
A Review of the 10-40 GHz Auction     10-40 GHz Auction   price       font style='font-size:12px;'> 2015/9/18
In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction. The auction used an innovative format intended to encourage an efficient assignment of th...
A Review of the L-band Auction     L-band Auction  price       font style='font-size:12px;'> 2015/9/18
In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The auction used an innovative format intended to encourage an efficient assignment of the 17 lo...
This paper is provided in connection with the 2007 Telecommunications SymposiumVoice, Video and Broadband: The Changing Competitive Landscape and Its Impact on Consumers, sponsored by the Antitrust ...
We have reviewed all of the comments submitted in response to the FCC’s notice. None of them raise any issues with our original submission other than some wishing for less vigilant anonymity provi...
Essential Entry: Revenues in the 700 MHz Spectrum Auction     Essential Entry  Spectrum Auction       font style='font-size:12px;'> 2015/9/18
A common misconception is that an open access provision on a sliver of the 700 MHz spectrum would reduce auction revenues. In fact, the open access, wholesale, and bidding credit provisions put fo...
Summary: Revenues in the 700 MHz Spectrum Auction     Spectrum Auction  Revenues       font style='font-size:12px;'> 2015/9/18
The 700 MHz spectrum has high “foreclosure value” to Verizon and AT&T, separate from the true “economic value” of building and operating a network. Market entry by new 700 MHz bidders threatens th...

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