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An experimental test of flexible combinatorial spectrum auction formats


Brunner, Christoph; Goeree, Jacob K; Holt, Charles A; Ledyard, John O (2010). An experimental test of flexible combinatorial spectrum auction formats. American Economic Journal: Microeconomics, 2(1):39-57.

Abstract

This paper reports laboratory experiments that evaluate the performance of a flexible packagebidding format developed by the FCC, in comparison with other combinatorial formats. In general, the interest of policy makers in combinatorial auctions is justified by the laboratory data; when value complementarities are present, package bidding yields improved performance. We find clear differences among the combinatorial auction formats, however, both in terms of efficiency and seller revenue. Notably, the combinatorial clock provides the highest revenue. The FCC’s flexible package bidding format performed worse than the alternatives, which is one of the main reasons why it was not implemented.

Abstract

This paper reports laboratory experiments that evaluate the performance of a flexible packagebidding format developed by the FCC, in comparison with other combinatorial formats. In general, the interest of policy makers in combinatorial auctions is justified by the laboratory data; when value complementarities are present, package bidding yields improved performance. We find clear differences among the combinatorial auction formats, however, both in terms of efficiency and seller revenue. Notably, the combinatorial clock provides the highest revenue. The FCC’s flexible package bidding format performed worse than the alternatives, which is one of the main reasons why it was not implemented.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > General Economics, Econometrics and Finance
Language:English
Date:2010
Deposited On:18 Jan 2011 10:31
Last Modified:30 Jul 2020 00:00
Publisher:American Economic Association
ISSN:1945-7669
OA Status:Green
Publisher DOI:https://doi.org/10.1257/mic.2.1.39

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