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This article examines how different auction designs perform when entry is endogenous andselective, by which we mean that bidders with higher values are more likely to enter. Ina model where potential ...
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...
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...
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...
DESIGNED TO FAIL: THE MEDICARE AUCTION FOR DURABLE MEDICAL EQUIPMENT
DURABLE MEDICAL EQUIPMENT MEDICARE
2015/9/18
We examine the theoretical properties of the auction for Medicare Durable Medical
Equipment. Two unique features of the Medicare auction are (1) winners are paid the
median winning bid and (2) bids ...
In the fall of 2010, 167 auction experts from top universities around the country sent a letter to&...
Comment on Hoerger: Early Pilots of Medicare Auctions Brings No Solace to Auction Experts
Medicare Auctions Brings Auction Experts
2015/9/18
Our Economists’ Voice column sumthe current and proposed Medicare auctions. The column was based on a careful
reading and analysis of the auction rules.
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...
Competitive Bidding Behavior in Uniform-Price Auction Markets
Uniform-Price Auction Markets Bidding Behavior
2015/9/18
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...
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 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
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...
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...
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...
The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry
Spectrum Auction Protect Competition
2015/9/18
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 ...