Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions
Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions
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无线电话的协同效应：来自宽带 PCS 拍卖的证据
DOI：
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发表时间：
1997
期刊：
影响因子：
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通讯作者：
J. Mcmillan
中科院分区：
文献类型：
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作者：
Lawrence M. Ausubel;P. Cramton;R. McAfee;J. Mcmillan
我们研究了前两个宽带PCS频谱拍卖的投标数据，以证明价值协同效应。首先，我们估计一个基准回归的最终拍卖价格的决定因素。然后，我们包括反映投标人最终赢得或已经拥有相邻无线财产的程度的变量。与出价递增拍卖中的地理协同效应一致，当损失最大的投标人拥有相邻的许可证时，价格会更高。中标者的足迹表明，他们往往成功地实现了这些协同作用。
We examine bid data from the first two broadband PCS spectrum auctions for evidence of value synergies. First, we estimate a benchmark regression for the determinants of final auction prices. Then, we include variables reflecting the extent to which bidders ultimately won or already owned the adjacent wireless properties. Consistent with geographic synergies in an ascending-bid auction, prices were higher when the highest-losing bidder had adjacent licenses. The footprints of winning bidders suggest that they were often successful in realizing these synergies.