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.

Ewerhart II, Christian

Moldovanu, Benny

English

Research Papers in Economics

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

http://www.sfb504.uni-mannheim.de/publications/dp02-05.pdf

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

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Research Papers in Economics