German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to …

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 auction.The present paper gives an account of the events, describes the auction rules and …

The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … laboratory experiment where bidders can signal information through their bidding behaviour to an outside observer. We consider … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …

In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different … contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …