Spectrum auctions and competition in telecommunications / Gerhard Illing and Ulrich Klüh, editors.

Format:

Book

Contributor:

Illing, Gerhard.

Klüh, Ulrich.

Universität München. Institut für Wirtschaftsforschung.

Series:

CESifo seminar series

Language:

English

Subjects (All):

Telecommunication--Case studies.

Telecommunication.

Trade regulation--Case studies.

Trade regulation.

Competition--Case studies.

Competition.

Genre:

Case studies.

Physical Description:

1 online resource (x, 306 pages) : illustrations.

Place of Publication:

Cambridge, Mass. : MIT Press, [2003]

System Details:

text file

Summary:

Leading experts in industrial organization and auction theory examine the recent European telecommunication license auction experience. In 2000 and 2001, several European countries carried out auctions for third generation technologies or universal mobile telephone services (UMTS) communication licenses. These "spectrum auctions" inaugurated yet another era in an industry that has already been transformed by a combination of staggering technological innovation and substantial regulatory change. Because of their spectacular but often puzzling outcomes, these spectrum auctions attracted enormous attention and invited new research on the interplay of auctions, industry dynamics, and regulation. This book collects essays on this topic by leading analysts of telecommunications and the European auction experience, all but one presented at a November 2001 CESifo conference; comments and responses are included as well, to preserve some of the controversy and atmosphere of give-and-take at the conference.The essays show the interconnectedness of two important and productive areas of modern economics, auction theory and industrial organization. Because spectrum auctions are embedded in a dynamic interaction of consumers, firms, legislation, and regulation, a multidimensional approach yields important insights. The first essays discuss strategies of stimulating new competition and the complex interplay of the political process, regulation, and competition. The later essays focus on specific spectrum auctions. Combining the empirical data these auctions provide with recent advances in microeconomic theory, they examine questions of auction design and efficiency and convincingly explain the enormous variation of revenues in different auctions.

Contents:

1 Spectrum Auctions and Competition in Telecommunications: An Introduction / Gerhard Illing, Ulrich Kluh 1

I Setting the Stage: (New) Competition, (New) Challenges, and Regulatory Innovation 17

2 Cross-Fertilization between U.S. and European Telecommunications Regulation / Ingo Vogelsang 19

3 "Cross-Fertilization between U.S. and European Telecommunications Regulation": A Comment / Ray Rees 41

4 New Competition in Telecommunications Markets: Regulatory Pricing Principles / Paul de Bijl, Martin Peitz 45

5 Remarks on de Bijl and Peitz's "New Competition in Telecommunications Markets: Regulatory Pricing Principles" / Ingo Vogelsang 73

6 The Interplay between Regulation and Competition: The Case of Universal Service Obligations / Steffen H. Hoernig, Tommaso M. Valletti 77

II European Spectrum Auctions: A British Success Story and Continental Failures? 95

7 How (Not) to Run Auctions: The European 3G Telecom Auctions / Paul Klemperer 97

8 Rationalizing the UMTS Spectrum Bids: The Case of the U.K. Auction / Tilman Borgers, Christian Dustmann 119

9 Efficiency of the British UMTS Auction: A Comment on Borgers and Dustmann / Klaus M. Schmidt 159

10 Some Observations on the British 3G Telecom Auction: Comments on Borgers and Dustmann / Paul Klemperer 163

11 The British UMTS Auction: A Response to Klemperer and Schmidt / Tilman Borgers, Christian Dustmann 171

III The Behavioral Approach to Auctions: Further Insights from Experimental Economics? 173

12 The Behavioral Approach to the Strategic Analysis of Spectrum Auctions: The Case of the German DCS-1800 Auction / Klaus Abbink, Bernd Irlenbusch, Bettina Rockenbach, Abdolkarim Sadrieh, Reinhard Selten 175

IV The German Auction Design 201

13 The German UMTS Design: Insights from Multi-Object Auction Theory / Christian Ewerhart, Benny Moldovanu 203

14 The Third Generation (UMTS) Spectrum Auction in Germany / Veronika Grimm, Frank Riedel, Elmar Wolfstetter 223

15 Some Observations on the German 3G Telecom Auction: Comments on Grimm, Riedel, and Wolfstetter / Paul Klemperer 247

V Closing the Circle: The Dutch Auction and the Interplay between the Political Process, Market Structure, and Strategic Behavior in Auctions 261

16 The Dutch UMTS Auction / Eric van Damme 263

17 Comments on "The Dutch UMTS Auction" by Eric van Damme / Christian Ewerhart 295.

Notes:

"CES."

OCLC-licensed vendor bibliographic record.

ISBN:

0262090376

9780262090377

9780262276016

0262276011

OCLC:

61677962

Access Restriction:

Restricted for use by site license.