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How (Not) to Run Auctions: The European 3G Telecom Auctions

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  • Paul Klemperer

Abstract

There were enormous differences in the revenues from the European third generation (3G, or UMTS) mobile-phone license auctions, from 20 Euros per capita in Switzerland to 650 Euros per capita in the U.K., though the values of the licences sold were similar. Poor auction designs in some countries facilitated collusion between firms and failed to attract entrants. The sequencing of the auctions was also crucial. We discuss the auctions in the U.K., Netherlands, Germany, Italy, Austria, Switzerland, Belgium, Greece and Denmark.

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File URL: http://www.nuff.ox.ac.uk/economics/papers/2002/w5/runauction.pdf
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Bibliographic Info

Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 2002-W05.

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Date of creation: 01 Nov 2001
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Handle: RePEc:oxf:wpaper:2002-w05

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Keywords: Auctions; Telecommunications; Spectrum Auctions; 3G; UMTS; Bidding;

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  1. Klemperer, Paul, 1998. "Auctions with almost common values: The 'Wallet Game' and its applications," European Economic Review, Elsevier, Elsevier, vol. 42(3-5), pages 757-769, May.
  2. Peter Cramton & Robert Gibbons & Paul Klemperer, 1985. "Dissolving a Partnership Efficiently," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 406, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Paul Klemperer, 1999. "Auction Theory: A Guide to the Literature," Economics Series Working Papers 1999-W12, University of Oxford, Department of Economics.
  4. Bulow, Jeremy I & Huang, Ming & Klemperer, Paul, 1996. "Toeholds and Takeovers," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1486, C.E.P.R. Discussion Papers.
  5. Roger B. Myerson & Mark A. Satterthwaite, 1981. "Efficient Mechanisms for Bilateral Trading," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 469S, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Bikhchandani, Sushil, 1988. "Reputation in repeated second-price auctions," Journal of Economic Theory, Elsevier, Elsevier, vol. 46(1), pages 97-119, October.
  7. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Klemperer, Paul, 2000. "Why every Economist should Learn some Auction Theory," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2572, C.E.P.R. Discussion Papers.
  9. Klemperer, Paul, 2000. "What Really Matters in Auction Design," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2581, C.E.P.R. Discussion Papers.
  10. Klemperer, Paul, 2003. "Using and Abusing Economic Theory," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3813, C.E.P.R. Discussion Papers.
  11. Ken Binmore & Paul Klemperer, 2001. "The Biggest Auction Ever: the Sale of the British 3G Telecom Licenses," Economics Papers 2002-W4, Economics Group, Nuffield College, University of Oxford, revised 01 Sep 2001.
  12. John Cable & Andrew Henley & Kevin Holland, 2002. "Pot of gold or winner's curse? An event study of the auctions of 3G mobile telephone licences in the UK," Fiscal Studies, Institute for Fiscal Studies, Institute for Fiscal Studies, vol. 23(4), pages 447-462, December.
  13. Alan Beggs & Kathryn Graddy, 1997. "Declining Values and the Afternoon Effect: Evidence from Art Auctions," RAND Journal of Economics, The RAND Corporation, vol. 28(3), pages 544-565, Autumn.
  14. Wolfstetter, Elmar, 2001. "The Swiss UMTS spectrum auction flop: Bad luck or bad design?," SFB 373 Discussion Papers 2001,50, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  15. Ballard, Charles L & Shoven, John B & Whalley, John, 1985. "General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States," American Economic Review, American Economic Association, American Economic Association, vol. 75(1), pages 128-38, March.
  16. Börgers, Tilman & Dustmann, Christian, 2001. "Strange Bids: Bidding Behaviour in the United Kingdom's Third Generation Spectrum Auction," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3072, C.E.P.R. Discussion Papers.
  17. Grimm, Veronika & Riedel, Frank & Wolfstetter, Elmar, 2001. "The third generation (UMTS) spectrum auction in Germany," SFB 373 Discussion Papers 2001,70, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  18. repec:wop:humbsf:2001-50 is not listed on IDEAS
  19. Plott, Charles R. & Salmon, Timothy, 2002. "The Simultaneous, Ascending Auction: Dynamics of Price Adjustment in Experiments and in the U.K. 3G Spectrum Auction," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 1155, California Institute of Technology, Division of the Humanities and Social Sciences.
  20. Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 3(3), pages 23-36, Summer.
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