; Department of Economics; University of Maryland; Table of Contents
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; College Park, MD 20742-7211
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This paper analyzes six spectrum auctions conducted by the Federal Communications Commission (FCC) from July 1994 to May 1996. These auctions were simultaneous multipleround auctions in which collections of licenses were auctioned simultaneousl y. This auction form proved remarkably successful. Similar items sold for similar prices and bidders successfully formed efficient aggregations of licenses. Bidding behavior differed substantially in the auctions. The extent of bidder competition and price uncertainty played an important role in determining behavior. Bidding credits and installment payments also played a major role in several of the auctions. JEL No.: D44 (Auctions), L96 ( Telecommunications) Keywords: Auctions, Multi-Object Auctions, Spectrum Auctions Send comments to: Professor Peter C. Cramton Department of Economics University of Maryland College Park, MD 20742-7211 email: firstname.lastname@example.org phone: (301) 405-6987 *I am grateful to the National Science Foun...