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Auctions

In: Network Economics

Author

Listed:
  • Günter Knieps

    (University of Freiburg)

Abstract

An auction is a market mechanism which, by means of explicit rules, transfers market players' bids into an allocation of resources. An auction yields an unequivocal result as to which market player gets a specific object at which price. In network sectors auctions have considerable potential as allocation mechanisms for network services (e.g. providing bus services) and for the provision of network infrastructure capacities (e.g. take-off and landing slots on airports). In this context, auctions of public resources, for instance radio frequencies, on the basis of which network infrastructures can be built, are the best known examples. This chapter analyses the network-specific particularities of auctions in network industries.

Suggested Citation

  • Günter Knieps, 2015. "Auctions," Springer Texts in Business and Economics, in: Network Economics, edition 127, chapter 5, pages 87-99, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-11695-2_5
    DOI: 10.1007/978-3-319-11695-2_5
    as

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