The simultaneous, ascending auction: dynamics of price adjustment in experiments and in the UK3G spectrum auction

@inproceedings{Plott2004TheSA,
  title={The simultaneous, ascending auction: dynamics of price adjustment in experiments and in the UK3G spectrum auction},
  author={Charles R. Plott and Timothy C. Salmon},
  year={2004}
}
  • Charles R. Plott, Timothy C. Salmon
  • Published 2004
  • Economics
  • In this paper we develop a model of the behavior of bidders in simultaneous ascending auctions based on two principles: principle of surplus maximization and the principle of bid minimization. These principles lead to models of both price dynamics and equilibration, leading to disequilibrium structural equations that can be used for estimating bidder values. The intention behind the development of this methodology is to provide an auctioneer a method of extracting information during an auction… CONTINUE READING

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