Winning Play in Spectrum Auctions

Jeremy Bulow (), Jonathan Levin and Paul Milgrom
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Jeremy Bulow: Gradudate School of Business, Stanford University

No 08-023, Discussion Papers from Stanford Institute for Economic Policy Research

Abstract: We describe factors that make bidding in large spectrum auctions complex including exposure and budget problems, the role of timing within an ascending auction, and the possibilities for price forecasting and how economic and game-theoretic analysis can assist bidders in overcoming these problems. As an example, we consider the case of the FCC's Advanced Wireless Service auction, in which a new entrant, SpectrumCo, faced all these problems yet managed to purchase nationwide coverage at a discount of roughly a third relative to the prices paid by its incumbent competitors in the same auction, saving more than a billion dollars.

Keywords: Game Theory; Bidding; Exposure; Budget Problems; Price Forecasting (search for similar items in EconPapers)
JEL-codes: C70 (search for similar items in EconPapers)
Date: 2009-02
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Citations: View citations in EconPapers (30)

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Working Paper: Winning Play in Spectrum Auctions (2009)
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