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The Swiss UMTS spectrum auction flop : bad luck or bad design

Wolfstetter, Elmar - 2001

introduced in England and adopted in Switzerland and elsewhere is a cause of the disappointing performance of many UMTS auctions … revenue or more competition. The paper closes with several proposals on how one should conduct future spectrum auctions. …

Persistent link: https://www.econbiz.de/10011399586

The third generation (UMTS) spectrum auction in Germany

Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar - 2001

competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …

Persistent link: https://www.econbiz.de/10011400807

Strategic leaks in first-price auctions and tacit collusion : the case of spying and counter-spying

Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2021

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...

Persistent link: https://www.econbiz.de/10012507333

Price vs. quantity competition in a vertically related market revisited

Basak, Debasmita; Mukherjee, Arijit - 2016

In a recent paper, Alipranti et al. (2014, Price vs. quantity competition in a vertically related market, Economics Letters, 124: 122-126) show that in a vertically related market Cournot competition yields higher social welfare compared to Bertrand competition if the upstream firm subsidises...

Persistent link: https://www.econbiz.de/10011569602

Making sense of non-binding retail-price recommendations

Bühler, Stefan; Gärtner, Dennis - 2010

We model non-binding retail-price recommendations (RPRs) as a communication device facilitating coordination in vertical supply relations. Assuming both repeated vertical trade and asymmetric information about production costs, we show that RPRs may be part of a relational contract,...

Persistent link: https://www.econbiz.de/10003965874

Superstar economists : coauthorship networks and research output

Hsieh, Chih-sheng; König, Michael D.; Liu, Xiaodong; … - 2018

We study the impact of research collaborations in coauthorship networks on research output and how optimal funding can maximize it. Through the links in the collaboration network, researchers create spillovers not only to their direct coauthors but also to researchers indirectly linked to them....

Persistent link: https://www.econbiz.de/10011925969

Crowdfunding dynamics

Belleflamme, Paul; Lambert, Thomas; Schwienbacher, Armin - 2019 - This version: August 9, 2019

Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to informational and payoff externalities. We use novel entrepreneur-backer data to study how these externalities shape funding dynamics, within and across projects. We find that backers...

Persistent link: https://www.econbiz.de/10012057306

Auctions with imperfect commitment when the reserve may serve as a signal

Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2014

If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by strategic non-participation, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a...

Persistent link: https://www.econbiz.de/10010231626

Security bid auctions for agency contracts

Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2013

A principal uses security bid auctions to award an incentive contract to one among several agents in the presence of … call a fixed wage contract, tends to outperform all other auctions, although it is not an optimal mechanism. However, by … adding output targets to hybrid share auctions one can (arbitrary closely) implement the optimal mechanism. …

Persistent link: https://www.econbiz.de/10010227234

The German UMTS design : insights from multi-object auction theory

Ewerhart, Christian; Moldovanu, Benny - 2002

We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the …

Persistent link: https://www.econbiz.de/10011409210