The German UMTS Design: Insights From Multi-Object Auction Theory

Benny Moldovanu () and Christian Ewerhart

No 02-05, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: 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 probelm that caused firms in Germany to pay almost Euro 20 billion for nothing.

Pages: 18 pages
Date: 2001-12-05
Note: C. Ewerhart thanks Mathias Meisel, portfolio manager at Zurich Invest, for many insightful discussions concerning the telecommunications industry. B. Moldovanu wishes to acknowledge the long cooperation with Philippe Jehiel. This cooperation has shaped several main ideas in this paper. We also wish to thank the participants at the CES/IFO conference on auctions and telecommunications for their many helpful comments.
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Citations: View citations in EconPapers (3)

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Working Paper: The German UMTS Design: Insights From Multi-Object Auction Theory (2002)
Working Paper: The German UMTS design: insights from multi-object auction theory (2002)
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