2.1 Simultaneous Ascending Auction Rules
The FCC spectrum auctions use the simultaneous ascending format. In a typical auction, there are many heterogenous licenses for sale. In a particular round, Örms may submit bids over the Internet on any of the licenses in the auction, using the FCC Auction System. The length of a round is announced in advance. In the 700 MHz auction, for example, rounds lasted30minutes. The number of rounds per day is one or two in the early stage but increases to several rounds in late stages. For example, there were six rounds per day in the Önal stage of the AWS-1 auction and 14 in the 700 MHz auction. At the end of the round, the bids for each license, including the identities of the bidders, are announced (except for the 700 MHz auction , which had anonymous bidding). All bids in round r + 1 were required to exceed the standing high bid in round r by a bid increment. The auction continues until no new bids are received, which in the case of Auction 5, extended the auction process to nearly 6 months. At the end of the Önal round, the highest bidder on each individual license is awarded the license at the price it bid.
2.1 Simultaneous Ascending Auction RulesThe FCC spectrum auctions use the simultaneous ascending format. In a typical auction, there are many heterogenous licenses for sale. In a particular round, Örms may submit bids over the Internet on any of the licenses in the auction, using the FCC Auction System. The length of a round is announced in advance. In the 700 MHz auction, for example, rounds lasted30minutes. The number of rounds per day is one or two in the early stage but increases to several rounds in late stages. For example, there were six rounds per day in the Önal stage of the AWS-1 auction and 14 in the 700 MHz auction. At the end of the round, the bids for each license, including the identities of the bidders, are announced (except for the 700 MHz auction , which had anonymous bidding). All bids in round r + 1 were required to exceed the standing high bid in round r by a bid increment. The auction continues until no new bids are received, which in the case of Auction 5, extended the auction process to nearly 6 months. At the end of the Önal round, the highest bidder on each individual license is awarded the license at the price it bid.
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