Article in Journal
The German UMTS design: insights form multi-object auction theory
Christian Ewerhart, Benny Moldovanu
ifo Institut für Wirtschaftsforschung, München, 2002
in: ifo Studien, 2002, 48, Nr.01, S.157-173
ifo Institut für Wirtschaftsforschung, München, 2002
in: ifo Studien, 2002, 48, Nr.01, S.157-173
We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to pay almost Euro 20 billion for nothing.
JEL Classification: D430,D440,D450