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Grimm, Veronika
Riedel, Frank
Wolfstetter, Elmar G.
Year of Publication: 
Series/Report no.: 
CESifo Working Paper 506
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 market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions.In particular it is shown that the low price equilibrium that implements the efficient allocation is the unique perfect equilibrium of that game.
Multi-unit auctions
spectrum auctions
industrial organization
game theory
Document Type: 
Working Paper
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