Some Observations on the British and German 3G Telecom Auctions
I suggest explanations for the apparently puzzling bidding in the year 2000 British and German 3G telecom auctions. Relative-performance maximisation may have been important, but the outcome of the British auction seems to have been efficient. This paper bundles my comments on two papers presented at the December 2001 CES Ifo conference on the telecom auctions. (For those readers new to the subject, I recommend first reading How (Not) to Run Auctions: the European 3G Telecom Auctions European Economic Review 2002 and at www.paulklemperer.org and The Biggest Auction Ever: the Sale of the British 3G Telecom Licenses Economic Journal 2002 and also at www.paulklemperer.org.)
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- Paul Klemperer, 2000.
"Why Every Economist Should Learn Some Auction Theory,"
- Klemperer, Paul, 2000. "Why every Economist should Learn some Auction Theory," CEPR Discussion Papers 2572, C.E.P.R. Discussion Papers.
- Paul Klemperer, 2000. "Why Every Economist Should Learn some Auction Theory," Economics Series Working Papers 2000-W25, University of Oxford, Department of Economics.
- Moldovanu, Benny & Ewerhart II, Christian, 2002.
"A Stylized Model of the German UMTS Auction,"
Sonderforschungsbereich 504 Publications
02-07, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Veronika Grimm & Frank Riedel & Elmar G. Wolfstetter, 2001.
"The Third Generation (UMTS) Spectrum Auction in Germany,"
CESifo Working Paper Series
584, CESifo Group Munich.
- 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.
- Paul Klemperer, 2003.
"Using and Abusing Economic Theory,"
Economics Series Working Papers
2003-W02, University of Oxford, Department of Economics.
- Bulow, Jeremy I. & Klemperer, Paul, 1994.
"Auctions vs. Negotiations,"
CEPR Discussion Papers
924, C.E.P.R. Discussion Papers.
- Binmore, Kenneth & Klemperer, Paul, 2002.
"The Biggest Auction Ever: The Sale of the British 3G Telecom Licences,"
CEPR Discussion Papers
3214, C.E.P.R. Discussion Papers.
- Ken Binmore & Paul Klemperer, 2002. "The Biggest Auction Ever: the Sale of the British 3G Telecom Licences," Economic Journal, Royal Economic Society, vol. 112(478), pages C74-C96, March.
- 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.
- Paul Klemperer & Ken Binmore, 2001. "The Biggest Auction Ever: the Sale of the British 3G Telecom Licences," Economics Series Working Papers 2002-W04, University of Oxford, Department of Economics.
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