What is game theory auction?
A game-theoretic auction model is a mathematical game represented by a set of players, a set of actions (strategies) available to each player, and a payoff vector corresponding to each combination of strategies. Generally, the players are the buyer(s) and the seller(s).
What is the purpose of spectrum auction?
A spectrum auction is a process whereby a government uses an auction system to sell the rights to transmit signals over specific bands of the electromagnetic spectrum and to assign scarce spectrum resources.
Is auction an example of game theory?
One frequently studied type of game is an auction. An auction is a sale in which a good or service is sold to the highest bidder. In an auction, I know how much I value the good, but I donit know how much everybody else values it (I might know the distribution).
What is auction model?
In an auction model, sellers offer products in an online auction and buyers bid on what they want to buy. The buyer with the highest bid wins the product. Auction sites make their money by taking a percentage of the selling price. The largest auction site is eBay.
What is meant by spectrum auction?
To sell these assets to companies willing to set up the required infrastructure to transport these waves from one end to another, the central government through the DoT auctions these airwaves from time to time. These airwaves are called spectrum, which is subdivided into bands which have varying frequencies.
What is spectrum release?
The release of spectrum will raise the speed of data flows and reduce data prices, which will facilitate and encourage a more digitally-intensive way of financial transacting across the board. …
What is auction mechanism?
The mechanism of the auction is the most popular type. Essentially, the auction works by successively raising the price until, there is one last bidder, who then becomes the highest bidder. This auction has also been called as an ascending bid auction.
What is the formula for game theory?
ν = ad − bc a − b − c + d . The expected payoff for the column player is given by the negative of the expected payoff for the row player since it is a zero sum game. The game is called a fair game if the value of the game is ν = 0.
What was the result of the spectrum auction?
The U.S. Treasury is over $100 billion richer thanks to the FCC’s auctions, and governments around the world have come to embrace this innovation with similarly lucrative results. But the advent of the spectrum auction was also an unlikely victory for an esoteric sub-discipline of economic theory—the study of auctions.
When was the second spectrum auction in Slovakia?
An internet-based computer system was developed for the second auction, held in 1998. During the year 2013 Telecommunications Regulatory Authority of the Slovak Republic concluded a CCA electronic auction for spectrum licences from the 800 MHz, 1800 MHz and 2600 MHz frequency bands.
When was the first wireless spectrum auction in Canada?
Canada held its first spectrum auction in 1999, for Broadband Wireless Access (BWA) spectrum in the 24GHz and 38GHz bands. In May 2008, ISED commenced an auction for 105 MHz of spectrum with 40 MHz reserved for new entrants.
Is the national radio spectrum on the auction block?
On Tuesday, the United States government kicked off the latest round in what might go down as the largest and most complex auction in human history. If you’ve never heard of this historic bidding war, that might be because the property that is now on the auction block, the national radio spectrum, is entirely invisible.