Putting Auction Theory to Work: The Simultaneous Ascending Auction
نویسنده
چکیده
We review the uses of economic theory in the initial design and later improvement of the “simultaneous ascending auction,” which was developed initially for the sale of radio spectrum licenses in the US, with efficiency of the final allocation as the statutory goal. We analyze some capabilities and inherent limitations of the auction, the roles of various detailed rules, the possibilities for introducing combinatorial bidding, and some considerations in adapting the auction for sales with a revenue goal.
منابع مشابه
Simultaneous Ascending Auctions
The simultaneous ascending auction has proved to be a successful method of auctioning many related items. Simultaneous sale and ascending bids promote price discovery, which helps bidders build desirable packages of items. Although package bids are not allowed, the auction format does handle mild complementarities well. I examine the auction design and its performance in practice.
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