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The third generation (UMTS) spectrum auction in Germany

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  • Grimm, Veronika
  • Riedel, Frank
  • Wolfstetter, Elmar

Abstract

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 observers. In addition, the paper evaluates the merit of the German UMTS auction design, relative to the English design, that was predominantly employed in Europe. --

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Bibliographic Info

Paper provided by Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes in its series SFB 373 Discussion Papers with number 2001,70.

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Date of creation: 2001
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Handle: RePEc:zbw:sfb373:200170

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Keywords: auctions; telecommunications; industrial organization; game theory;

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References

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  1. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna.
  2. Menezes, Flavio M., 1996. "Multiple-unit English auctions," European Journal of Political Economy, Elsevier, vol. 12(4), pages 671-684, December.
  3. 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.
  4. Robert J. Weber, 1981. "Multiple-Object Auctions," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 496, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. repec:wop:humbsf:2001-50 is not listed on IDEAS
  6. Tilman Börgers & Christian Dustmann, 2005. "Strange Bids: Bidding Behaviour in the United Kingdom's Third Generation Spectrum Auction," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 115(505), pages 551-578, 07.
  7. Auriol, Emmanuelle & Laffont, Jean-Jacques, 1992. "Regulation by Duopoly," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 1(3), pages 507-33, Fall.
  8. repec:wop:humbsf:2000-19 is not listed on IDEAS
  9. Grimm, Veronika & Riedel, Frank & Wolfstetter, Elmar, 2000. "Implementing efficient market structure," SFB 373 Discussion Papers 2000,19, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  10. Richard Engelbrecht-Wiggans & Charles M. Kahn, 2005. "Low-Revenue Equilibria in Simultaneous Ascending-Bid Auctions," Management Science, INFORMS, INFORMS, vol. 51(3), pages 508-518, March.
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Citations

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Cited by:
  1. 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.
  2. Veronika Grimm & Frank Riedel & Elmar G. Wolfstetter, 2001. "Low Price Equilibrium in Multi-Unit Auctions: The GSM Spectrum Auction in Germany," CESifo Working Paper Series 506, CESifo Group Munich.
  3. Paul Klemperer, 2001. "How (Not) to Run Auctions: The European 3G Telecom Auctions," Economics Series Working Papers 2002-W05, University of Oxford, Department of Economics.
  4. Klemperer, Paul, 2002. "Some Observations on the British and German 3G Telecom Auctions," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3605, C.E.P.R. Discussion Papers.
  5. Kenneth R. CARTER, 2013. "Next Generation Spectrum Regulation:Price-Guided Radio Policy," Communications & Strategies, IDATE, Com&Strat dept., IDATE, Com&Strat dept., vol. 1(90), pages 41-62, 2nd quart.
  6. Tilman Börgers & Christian Dustmann, 2005. "Strange Bids: Bidding Behaviour in the United Kingdom's Third Generation Spectrum Auction," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 115(505), pages 551-578, 07.
  7. Hu, Luke & Wolfstetter, Elmar G., 2012. "License auctions with exit (and entry) options: Alternative remedies for the exposure problem," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 394, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.

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