Name
Abstract | ||
|---|---|---|
We report on the use of a quadratic programming technique in recent and upcoming spectrum auctions in Europe. Specifically, we compute a unique point in the core that minimizes the sum of squared deviations from a reference point, for example, from the Vickrey-Clarke-Groves payments. Analyzing the Karush-Kuhn-Tucker conditions, we demonstrate that the resulting payments can be decomposed into a series of economically meaningful and equitable penalties. Furthermore, we discuss the benefits of this combinatorial auction, explore the use of alternative reserve pricing approaches in this context, and indicate the results of several hundred computational runs using CATS data. |
Year | DOI | Venue |
|---|---|---|
2012 | 10.1287/opre.1110.1024 | Operations Research |
Keywords | Field | DocType |
quadratic core-selecting payment rules,combinatorial auctions,equitable penalty,quadratic programming technique,unique point,reference point,vickrey-clarke-groves payment,hundred computational,combinatorial auction,cats data,alternative reserve pricing approach,karush-kuhn-tucker condition,spectrum auctions,auctions,market design | Mathematical optimization,Economics,Vickrey auction,Unique bid auction,Combinatorial auction,Microeconomics,Auction theory,Common value auction,Quadratic programming,Spectrum auction,Forward auction | Journal |
Volume | Issue | ISSN |
60 | 3 | 0030-364X |
Citations | PageRank | References |
19 | 1.29 | 10 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Robert Day | 1 | 193 | 15.90 |
| Peter Cramton | 2 | 255 | 25.93 |