منابع مشابه
Auctions to implement the efficient market structure
We consider a regulator who does not know how many firms should be granted a license to enter a market as he has limited information on their setup costs. We propose two auction formats which implement the efficient market structure. One is called ”jumping English auction”, where the price for a license increases continuously most of the times, but jumps at pre-specified points. The other is ca...
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We examine bidding behaviour of individuals and teams in an experimental auction resembling UMTS-license auctions. Even though in reality teams were largely involved in those auctions, experimental studies on bidding in auctions have so far relied on individual bidders. Our results show that teams stay on average longer in an (ascending sealed-bid English) auction and pay significantly higher p...
متن کاملThe European UMTS/IMT-2000 License Auctions
We survey the recent European UMTS license auctions and compare their outcomes with the predictions of a simple model that emphasizes future market structure as a main determinant of valuations for licenses. Since the main goal of most spectrum allocation procedures is economic e¢ciency, and since consumers (who are a¤ected by the ensuing market structure) do not participate at the auction stag...
متن کاملLicense Auctions with Royalty Contracts for Losers
This paper revisits the standard analysis of licensing a cost reducing innovation by an outside innovator to a Cournot oligopoly. We propose a new mechanism that combines elements of a license auction with royalty licensing by granting the losers of the auction the option to sign a royalty contract. The optimal new mechanism eliminates the losses from exclusionary licensing without reducing bid...
متن کاملMarket Structure and the Flow of Information In Repeated Auctions
There is an ongoing public policy debate regarding vertical integration and its concomitant information flows. Of particular concern is that the information derived by an auctioneer (such as a distributor) will be shared with its integrated bidder (such as a manufacturer), leading to a reduction in competition between the bidders. Similar competitive concerns arise regarding bid revelation poli...
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ژورنال
عنوان ژورنال: Journal of Economics <html_ent glyph="@amp;" ascii="&"/> Management Strategy
سال: 2006
ISSN: 1058-6407,1530-9134
DOI: 10.1111/j.1530-9134.2006.00104.x