The second-generation (GSM) spectrum auction in Germany is probably the most clear cut example of a low price outcome in a simultaneous ascending-bid multi-unit auction. The present paper gives an account of the events, describes the auction rules and market conditions, and provides a game theoretic explanation of low price equilibrium in simultaneous, ascending-bid multi-unit auctions. In particular, it is shown that in the unique equilibrium that survives iterated elimination of dominated strategies, the efficient allocation is reached at minimum bids.
Did you find this white paper useful?
22 out of 50 users found this white paper useful
Related white papers
Does 802.11n deliver better wireless services for Enterprises?
Watch our on demand 802.11n webinar to discover how HiPath Wireless 802.11n from Siemens Enterprise Communication has solved the traditional technology challenges associated with higher power access points and controllers....
Farpoint Group report - 802.11n Access Points and POE: Key considerations
In this 5 page report, you'll discover more about the key technical considerations when making the move to 802.11n. The report provides: * An overview of PoE ...
Practical Considerations for Deploying 802.11n
Download this White Paper from Siemens Enterprise Communications to demystify the current confusion surrounding the new 802.11n WiFi standard.Find out more about the key issues when considering a move to...
Realize the Power of Truly Mobile Operations
Mobility technologies have revolutionized the way we work and live, and impacted the way entire industries are doing business today. The time has come for business to truly leverage...
An Architectural Framework to Deploy Scatternet-Based Applications Over Bluetooth
Bluetooth is a promising wireless personal area network technology and is on the verge of being ubiquitously deployed over a wide range of devices. The basic unit of a Bluetooth...
Aperto Networks Chooses Fujitsu System-on-Chip for Its WiMAX Systems
Aperto has selected Fujitsu's SoC as the standard silicon for its PacketWave(R) base station systems and high-end series of business-grade customer premises equipment. The Fujitsu WiMAX SoC architecture is highly...
Mandarin Oriental Hotel Group Deploys Windows XP for Road Warriors
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most prestigious hotels. The 80 staff in Mandarin Oriental's corporate office in Hong Kong are...
