Download or read book Auction Design and Tacit Collusion in FCC Spectrum Auctions written by Patrick L. Bajari and published by . This book was released on 2008 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Communications Commission (FCC) has used auctions to award spectrum since 1994. During this time period, the FCC has experimented with a variety of auctions rules including click box bidding and anonymous bidding. These rule changes make the actions of bidders less visible during the auction and also limit the set of bids which can be submitted by a bidder during a particular round. Economic theory suggests that tacit collusion may be more difficult as a result. We examine this proposition using data from 4 auctions: the PCS C Block, Auction 35, the Advanced Wireless Service auction and the 700 Mhz auction. We examine the frequency of jump bids, retaliatory bids and straightforward bids across these auctions. While this simple descriptive exercise has a number of limitations, the data suggests that these rule changes did limit firms' ability to tacitly collude.
Download or read book Auction Design Ad Tacit Collusion in FCC Spectrum Auctions written by Patrick Bajari and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Complementarities and Collusion in an FCC Spectrum Auction written by Patrick L. Bajari and published by . This book was released on 2005 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We empirically study bidding in the C Block of the US mobile phone spectrum auctions. Spectrum auctions are conducted using a simultaneous ascending auction design that allows bidders to assemble packages of licenses with geographic complementarities. While this auction design allows the market to find complementarities, the auction might also result in an inefficient equilibrium. In addition, these auctions have equilibria where implicit collusion is sustained through threats of bidding wars. We estimate a structural model in order to test for the presence of complementarities and implicit collusion. The estimation strategy is valid under a wide variety of alternative assumptions about equilibrium in these auctions and is robust to potentially important forms of unobserved heterogeneity. We make suggestions about the design of future spectrum auctions.
Download or read book Handbook of Spectrum Auction Design written by Martin Bichler and published by Cambridge University Press. This book was released on 2017-10-26 with total page 935 pages. Available in PDF, EPUB and Kindle. Book excerpt: An international team of experts covers the pros and cons of different auction formats and lessons learned in the field.
Download or read book Spectrum Auctions written by Geoffrey Myers and published by LSE Press. This book was released on 2023-02-15 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to the radio spectrum is vital for modern digital communication. It is an essential component for smartphone capabilities, the Cloud, the Internet of Things, autonomous vehicles, and multiple other new technologies. Governments use spectrum auctions to decide which companies should use what parts of the radio spectrum. Successful auctions can fuel rapid innovation in products and services, unlock substantial economic benefits, build comparative advantage across all regions, and create billions of dollars of government revenues. Poor auction strategies can leave bandwidth unsold and delay innovation, sell national assets to firms too cheaply, or create uncompetitive markets with high mobile prices and patchy coverage that stifles economic growth. Corporate bidders regularly complain that auctions raise their costs, while government critics argue that insufficient revenues are raised. The cross-national record shows many examples of both highly successful auctions and miserable failures. Drawing on experience from the UK and other countries, senior regulator Geoffrey Myers explains how to optimise the regulatory design of auctions, from initial planning to final implementation. Spectrum Auctions offers unrivalled expertise for regulators and economists engaged in practical auction design or company executives planning bidding strategies. For applied economists, teachers, and advanced students this book provides unrivalled insights in market design and public management. Providing clear analytical frameworks, case studies of auctions, and stage-by-stage advice, it is essential reading for anyone interested in designing public-interested and successful spectrum auctions.
Download or read book Dynamic Spectrum Auction in Wireless Communication written by Yanjiao Chen and published by Springer. This book was released on 2015-02-06 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This brief explores current research on dynamic spectrum auctions, focusing on fundamental auction theory, characteristics of the spectrum market, spectrum auction architecture and possible auction mechanisms. The brief explains how dynamic spectrum auctions, which enable new users to gain spectrum access and existing spectrum owners to obtain financial benefits, can greatly improve spectrum efficiency by resolving the artificial spectrum shortage. It examines why operators and users face significant challenges due to specialty of the spectrum market and the related requirements imposed on the auction mechanism design. Concise and up-to-date, Dynamic Spectrum Auction in Wireless Communication is designed for researchers and professionals in computer science or electrical engineering. Students studying networking will also find this brief a valuable resource.
Download or read book Auctions and Precautions written by Matthew Bennett and published by . This book was released on 2000 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Insider s View of FCC Spectrum Auctions written by Gregory L. Rosston and published by . This book was released on 1999 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mechanisms and Games for Dynamic Spectrum Allocation written by Tansu Alpcan and published by Cambridge University Press. This book was released on 2014 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative and comprehensive book presenting state-of-the-art research into wireless spectrum allocation based on game theory and mechanism design.
Download or read book A Primer on Auction Design Management and Strategy written by David J. Salant and published by MIT Press. This book was released on 2014-12-26 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to modeling and analyzing auctions, with the applications of game theory and auction theory to real-world auction decision making. Auctions are highly structured market transactions primarily used in thin markets (markets with few participants and infrequent transactions). In auctions, unlike most other markets, offers and counteroffers are typically made within a structure defined by a set of rigid and comprehensive rules. Because auctions are essentially complex negotiations that occur within a fully defined and rigid set of rules, they can be analyzed by game theoretic models more accurately and completely than can most other types of market transactions. This book offers a guide for modeling, analyzing, and predicting the outcomes of auctions, focusing on the application of game theory and auction theory to real-world auction design and decision making. After a brief introduction to fundamental concepts from game theory, the book explains some of the more significant results from the auction theory literature, including the revenue (or payoff) equivalence theorem, the winner's curse, and optimal auction design. Chapters on auction practice follow, addressing collusion, competition, information disclosure, and other basic principles of auction management, with some discussion of auction experiments and simulations. Finally, the book covers auction experience, with most of the discussion centered on energy and telecommunications auctions, which have become the proving ground for many new auction designs. A clear and concise introduction to auctions, auction design, and auction strategy, this Primer will be an essential resource for students, researchers, and practitioners.
Download or read book Mobile Telecommunications in a High Speed World written by Peter Curwen and published by CRC Press. This book was released on 2016-07-22 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile Telecommunications in a High Speed World tells the story of 3G and higher-speed mobile communication technologies. Over ten years have passed since the first third-generation (3G) licences were awarded following debates about the merits of auctions versus 'beauty contests' then, nothing much happened. More licences were issued, a few roll-outs commenced and everyone began to think it had all been a horribly expensive mistake. That may still turn out to be the case, but in the meantime there have been massive developments in terms of the number of licences and launches worldwide, in the range of services that can be accessed, in the range of devices that can be used to access them, in operator strategies etc. Even the technology has improved considerably with 4G now under discussion. Much of this story has been chronicled, largely on the Internet, but the information is in tens of thousands of bits and pieces and a large part of it is either misleading or just plain wrong. Here, Peter Curwen and Jason Whalley introduce the outcomes of research that has involved the compilation of a unique database which details every licence and launch worldwide involving 3G. The authors discuss the structure of the industry and the strategic behaviour of operators, as well as the social consequences of the spread of 3G. They examine the role of new entry upon competition, and present analysis of the main operators involved, the development of handsets and especially smartphones. A number of country case studies are included. This comprehensive and up-to-date volume includes a number of country studies and is written by two of the world's foremost researchers on this industry. Mobile Telecommunications in a High Speed World will serve the needs of students, academics and those involved, or contemplating involvement, with the telecoms industry. Why pay thousands of dollars to consultancies to separate the wheat from the chaff with respect to 3G when you can read this book.
Download or read book Collusion and Predation in Auction Markets written by Paul Klemperer and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important issues in auction design are the traditional concerns of competition policy - preventing collusive, predatory, and entry-deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable to these problems, and the Anglo-Dutch auction - a hybrid of the sealed-bid and ascending auctions - may often perform better. Effective anti-trust policy is also critical. However, everything depends on the details of the context; the circumstances of the recent U.K. mobile-phone license made an ascending format ideal, but this author (and others) correctly predicted the same format would fail in the Netherlands and elsewhere. Auction design is not "one size fits all". We also discuss the 3G spectrum auctions in Germany, Italy, Austria and Switzerland, and football TV-rights, TV franchise and other radiospectrum auctions, electricity markets, and takeover battles. [This is a revised and extended version of the paper previously circulated under the title "What Really Matters in Auction Design".].
Download or read book Cognitive Radio Networking and Security written by K. J. Ray Liu and published by Cambridge University Press. This book was released on 2010-10-28 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the rapid growth of new wireless devices and applications over the past decade, the demand for wireless radio spectrum is increasing relentlessly. The development of cognitive radio networking provides a framework for making the best possible use of limited spectrum resources, and it is revolutionising the telecommunications industry. This book presents the fundamentals of designing, implementing, and deploying cognitive radio communication and networking systems. Uniquely, it focuses on game theory and its applications to various aspects of cognitive networking. It covers in detail the core aspects of cognitive radio, including cooperation, situational awareness, learning, and security mechanisms and strategies. In addition, it provides novel, state-of-the-art concepts and recent results. This is an ideal reference for researchers, students and professionals in industry who need to learn the applications of game theory to cognitive networking.
Download or read book Handbook of Industrial Organization written by and published by Elsevier. This book was released on 2021-12-09 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists
Download or read book Sustainable Consumption written by Alberto do Amaral Junior and published by Springer Nature. This book was released on 2019-10-21 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a broad understanding of whether law plays a role in influencing patterns of sustainable consumption and, if so, how. Bringing together legal scholars from the Global South and the Global North, it examines these questions in the context of national, transnational and international law, within single and plural legal systems, and across a range of sector-specific issue areas. The chapters identify how traditional legal disciplines (e.g. constitutional law, consumer law, public procurement, international public law), sector-related regulation (e.g. energy, water, waste), and legal rules in specific areas (e.g. eco-labelling and packing) engage with the concept of sustainable consumption. A number of the contributions describe this relationship by isolating a national legal system, while others approach it from the vantage point of legal pluralism, exploring the conflicts and convergences of rules between multiple international treaties (or guidelines) and those between the rules of international and transnational law (or both) vis-à-vis national legal systems. While sustainable consumption is recognised as an important field of interdisciplinary research linking virtually all social science disciplines, legal scholarship, in contrast, has neglected the importance of the field of sustainable consumption to the law. This book fills the gap.
Download or read book What Really Matters in Auction Design written by Paul Klemperer and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Spectrum Auction Design written by Martin Bichler and published by . This book was released on 2013 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the successful PCS Auction conducted by the FCC in 1994, auctions have replaced traditional ways of allocating valuable radio spectrum. Spectrum auctions have raised hundreds of billion dollars worldwide and have become a role model for market-based approaches in the public and private sectors. The PCS spectrum was sold via a simultaneous multi-round auction, which forces bidders to compete for licenses individually even though they typically value certain combinations. This exposes bidders to risk when they bid aggressively for a desired combination but end up winning an inferior subset. Foreseeing this possibility, bidders may act cautiously with adverse effects for revenue and efficiency. Combinatorial auctions allow for bids on combinations of licenses and thus hold the promise of improved performance.Recently, a number of countries have switched to the combinatorial clock auction to sell spectrum. However, the number of possible packages grows exponentially with the number of licenses, which adds complexity to the auction. We analyze the impact of two main design choices: simple "compact'' bid languages versus complex "fully expressive'' bid languages and simple "pay-as-bid'' payment rules versus complex "bidder-optimal core-selecting'' payment rules. We consider these design choices both for ascending and sealed-bid formats. We find that simplicity of the bid language has a substantial positive impact on the auction's efficiency and simplicity of the payment rule has as a substantial positive impact on the auction's revenue. The currently popular combinatorial clock auction, which uses a complex bid language and payment rule, scores worst on both dimensions.
