Low equilibrium in multi-unit auctions: the GSM spectrum auction in Germany

Article Abstract:

A description of the low price equilibrium observed in the second-generation global system for mobiles (GSM) auction in Germany is provided. It is stated that this observance is a plausible outcome of simultaneous ascending auctions when the objects are mutual substitutes and valuations are common knowledge.

Evaluation, Industrial organization, Game theory

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Spatial contests

Article Abstract:

Research into the location choice of firms competing for customers is presented. There is a subgame perfect equilibrium in the location game.

Research, Industrial locations, Industrial location

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Silent interests and all-pay auctions

Article Abstract:

Effects of silent shareholdings during all-pay auctions, when the strongest firm has large share in the second strongest firm are presented.

Securities issued, listed, Venture Analysis, Stocks, Securities, Business enterprises, Company securities

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