An Equilibrium Analysis Of The Simultaneous Ascending Auction

The authors analyze the dynamic Simultaneous Ascending Auction (SAA), which was pioneered by the US Federal Communications Commission (FCC) in 1994 and has since become the standard to conduct large-scale, large-stakes spectrum auctions around the world. They consider an environment where local bidders, each interested in a single item, compete against one or more global bidders with super-additive values for combinations of items. In the SAA, competition takes place on an item-by-item basis, which creates an exposure problem for global bidders - when competing aggressively for a package; a global bidder may incur a loss when winning only a subset.

Provided by: University of Zurich Topic: Software Date Added: Sep 2009 Format: PDF

Find By Topic