Peter Cramton: Browse by Subject

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Pricing Rule in a Clock Auction (with Pacharasut Sujarittanonta), Working Paper, University of Maryland (2009)

We analyze a discrete clock auction with lowest-accepted bid (LAB) pricing and provisional winners, as...

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Spectrum Auction Design, Working Paper, University of Maryland (2009)

Spectrum auctions are used by governments to assign and price licenses for wireless communications. The...

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A Two-Sided Auction for Legacy Loans (2009)

On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a...

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Making Sense of the Aggregator Bank (with Lawrence M. Ausubel), The Economists' Voice (2009)

On Tuesday, 10 February 2009, Treasury Secretary Geithner proposed the aggregator bank ("public-private investment fund")...

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No Substitute for the "P" Word in Financial Rescue (with Lawrence M. Ausubel), The Economists' Voice (2009)

Fears of pricing troubled assets have needlessly stalled the rescue effort, according to Lawrence Ausubel...

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Foreword to Ross Baldick's 'Single Clearing Price in Electricity Markets', Compete Coalition, www.competecoalition.com (2009)

Argues that consumers and suppliers are better off with the clearing-price auction in electricity markets.

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Auctioning the Digital Dividend, Communications Regulation in the Age of Digital Convergence: Legal and Economic Perspectives (2009)

I begin by describing some of the problems of the simultaneous ascending auction. Then I...

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How Best to Auction Natural Resources, Handbook of Oil, Gas And Mineral Taxation (2009)

I study the design of auctions of natural resources, such as oil or mineral rights....

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Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction (with Lawrence M. Ausubel, Emel Feliz-Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking), Working Paper, University of Maryland (2008)

We experimentally test alternative auction designs suitable for pricing and removing troubled assets from banks’...

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Auctions for Injecting Bank Capital (Addendum to 'A Troubled Asset Reverse Auction') (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

Public discussion has turned, in the past few days, toward using some of the $700...

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Report on Key Design Elements of Auctions Under Australia's Carbon Pollution Reduction Scheme, Tradeslot Report to Australian Department of Climate Change, [Ch. 9 Auction Design, Australian White Paper] (2008)

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A Review of the 10-40 GHz Auction, Report for UK Office of Communications (2008)

In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction....

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A Review of the L-Band Auction, Report for UK Office of Communications (2008)

In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The...

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A Troubled Asset Reverse Auction (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

The US Treasury has proposed purchasing $700 billion of troubled assets to restore liquidity and...

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Auction Design Critical for Rescue Plan (with Lawrence M. Ausubel), The Economists' Voice (2008)

The details of the auction design could make or break the Treasury's plan to invest...

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Auctioning Long-term Gas Contracts in Colombia, Report for Colombia’s Comisión de Regulación de Energía y Gas (2008)

This paper presents an approach to auctioning long-term gas contracts in Colombia. I propose an...

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The Quadratic Core-Selecting Payment Rule for Combinatorial Auctions (with Robert Day), Working Paper, University of Maryland (2008)

We report on the use of a quadratic programming technique in recent and upcoming spectrum...

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Forward Reliability Markets: Less Risk, Less Market Power, More Efficiency (with Steven Stoft), Utilities Policy (2008)

A forward reliability market is presented. The market coordinates new entry through the forward procurement...

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Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

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Market Design: Auctions and Matching, Better Living Through Economics (2008)

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The Effect of Incumbent Bidding in Set-Aside Auctions: An Analysis of Prices in the Closed and Open Segments of FCC Auction 35 (with Allan T. Ingraham and Hal J. Singer), Telecommunications Policy (2008)

This paper examines the impact of an incumbent carrier’s participation in two simultaneously conducted auctions:...

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An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

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Comments on the RGGI Market Design, Report for ISO New England and NYISO (2007)

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The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and...

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Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73 (with Gregory Rosston, Andrzej Skrzypacz, and Robert Wilson), Report for Frontline Wireless (2007)

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Affidavit of Peter Cramton, DC Energy, LLC v. HQ Energy Services (US) Inc., Docket No. EL07-67-000, before Federal Energy Regulatory Commission (2007)

Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of...

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Colombia’s Forward Energy Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a market design for Colombia’s forward energy market, which is scheduled to...

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Possible Design for a Greenhouse Gas Emissions Trading System, Report for Australia National Emissions Trading Taskforce (2007)

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Economist Letter to NTIA on 700 MHz Spectrum Auction (with Andrzej Skrzypacz, Simon Wilkie, and Robert Wilson), Report for Frontline Wireless (2007)

As the 700 MHz auction approaches, we are writing to clear up a common misconception...

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Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

A common misconception is that an open access provision on a sliver of the 700...

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Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

There have been several comments that criticize auction rules that prevent the two major low-frequency...

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Economic Comments on the Design of the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

We comment on the service and auction rules discussed in the Report and Order and...

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Affidavit of Peter Cramton, The People of the State of Illinois, et al., Docket No. EL07-47-000, Federal Energy Regulatory Commission (2007)

Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction....

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Product Design for Colombia’s Regulated Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to...

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Why Large Licenses Are Best for the 700 MHz Spectrum Auction, Before the Federal Communications Commission, on behalf of Verizon Wireless (2007)

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Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

We summarize the results of a project that was motivated by the expiration of the...

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Affidavit of Peter Cramton, New York Independent System Operator, Docket No. ER07-360-000, Federal Energy Regulatory Commission (2007)

Affidavit identifying manipulation of New York's capacity market by KeySpan and the need for market...

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Colombia Firm Energy Market (with Steven Stoft), Proceedings of the Hawaii International Conference on System Sciences (2007)

A firm energy market for Colombia is presented. Firm energy—the ability to provide energy in...

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How Best to Auction Oil Rights, Escaping the Resource Curse (2007)

I study the design of oil rights auctions. A good auction design promotes both an...

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Why We Need to Stick with Uniform-Price Auctions in Electricity Markets (with Steven Stoft), Electricity Journal (2007)

Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit...

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Simulation of the Colombian Firm Energy Market (with Steven Stoft), Report for Colombia’s Comisión de Regulación de Energía y Gas (2006)

We present a simulation analysis of the proposed Colombian firm energy market. The main purpose...

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New England’s Forward Capacity Auction, Report for ISO New England (2006)

This note provides a brief description of New England’s Forward Capacity Auction (FCA) for the...

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The Convergence of Market Designs for Adequate Generating Capacity (with Steven Stoft), Report for California Electricity Oversight Board (2006)

This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds...

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Ex Parte of Peter Cramton, AWS Auction, Federal Communications Commission, on behalf of T-Mobile (2006)

Ex parte communication on various auction rules for the AWS auction.

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Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

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Reply Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Reply declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

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Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

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Dynamic Auctions in Procurement (with Lawrence M. Ausubel), Handbook of Procurement (2006)

We study the theory and practical implementation of dynamic procurement auctions. We consider the procurement...

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Introduction to Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

Combinatorial auctions are those auctions in which bidders can place bids on combinations of items,...

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Simultaneous Ascending Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

The simultaneous ascending auction has proved to be a successful method of auctioning many related...

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The Clock-Proxy Auction: A Practical Combinatorial Auction Design (with Lawrence M. Ausubel), Combinatorial Auctions (2006)

We propose the clock-proxy auction as a practical means for auctioning many related items. A...

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Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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A Capacity Market that Makes Sense (with Steven Stoft), Electricity Journal (2005)

We argue that a capacity market is needed in most restructured electricity markets, and present...

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Comments on DOC Notice of Preliminary Results of Countervailing Duty Review (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

ISO New England proposes reserve markets designed to improve the existing forward reserve market and...

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Auctioning Many Divisible Goods (with Lawrence M. Ausubel), Journal of the European Economic Association (2004)

We study the theory and practical implementation of auctioning many divisible goods. With multiple related...

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Vickrey Auctions with Reserve Pricing (with Lawrence M. Ausubel), Economic Theory (2004)

We generalize the Vickrey auction to allow for reserve pricing in a multi-unit auction with...

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Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2004)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Competitive Bidding Behavior in Uniform-Price Auction Markets, Proceedings of the Hawaii International Conference on System Sciences (2004)

Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is...

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Estimating Auction Revenues for the Proposed FCC Sale of 3G Spectrum for Broadband and Advanced Wireless Services, Criterion Auctions Report for U.S. Department of Defense (2003)

Expert Report of Peter Cramton, D. Lamar Deloach, et al. v. Philip Morris, Inc., et al., Civil Action No. 00-CV-1253, United States District Court, Middle District of North Carolina. (2003)

For R.J. Reynolds. Concluded that R.J. Reynolds did not collude in U.S. tobacco auctions during...

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Competitive Bidding Behavior in Uniform-Price Auction Markets, Report before the Federal Energy Regulatory Commission, on behalf of Duke Energy (2003)

Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is...

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Competitive Bidding Behavior in Uniform-Price Auction Markets, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

For Duke Energy.

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Rebuttal Addendum: Assessment of Submissions of the California Parties, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

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Upset Pricing in Auction Markets: An Overview (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2003)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Electricity Market Design: The Good, the Bad, and the Ugly, Proceedings of the Hawaii International Conference on System Sciences (2003)

This paper examines principles of market design as applied to electricity markets. I illustrate the...

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An Analysis of Auction Volume and Market Competition for the Coastal Forest Regions in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Reserve Prices, Stumpage Fees, and Efficiency (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Setting the Upset Price in British Columbia Timber Auctions (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

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Auctioning Timber to Maximize Revenues in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Comments on Alternative Policy Options for Managing Capacity and Mitigating Congestion and Delay at LaGuardia Airport, U.S. Department of Transportation, Docket Nos. FAA–2001–9852, FAA–2001–9854 (2002)

Recommending auctions to manage congestion at LaGuardia.

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A Comparison of Equation-Based and Parity Pricing of Stumpage Fees for British Columbia Timber Under Long-Term Tenures (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Auction-Based Timber Pricing and Complementary Market Reforms in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Testing for Anti-Competitive Bidding in Auction Markets (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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Declaration of Peter Cramton, Verizon Wireless Petition for Permanent Forbearance from CMRS Number Portability, Federal Communications Commission, WT Docket No. 01-184 (2002)

Comments in support of wireless number portability. For Leap Wireless.

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Collusive Bidding in the FCC Spectrum Auctions (with Jesse A. Schwartz), Contributions in Economic Analysis & Policy (2002)

This paper describes the bid signaling that occurred in many of the FCC spectrum auctions....

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Spectrum Auctions, Handbook of Telecommunications Economics (2002)

Auctions have emerged as the primary means of assigning spectrum licenses to companies wishing to...

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Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather (with Suzi Kerr), Energy Policy (2002)

An auction of carbon permits is the best way to achieve carbon caps set by...

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Ex Parte Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Further comments on the CMRS spectrum cap. For Leap Wireless.

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Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Electricity Journal (2001)

Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial...

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Lessons Learned from the UK 3G Spectrum Auction, Report on the UK 3G Spectrum Auction. For UK National Audit Office. (2001)

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2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission, "Declaration of Peter Cramton,", Comments on the CMRS spectrum cap. For Leap Wireless. (2001)

Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Comments on the CMRS spectrum cap. For Leap Wireless.

Expert Report of Peter Cramton, First Millennium Communications, Inc. and Barbara Laurence vs. Entravision Communications Company, No. 1420009074 (2001)

Comment on the value of clearing rights for broadcast television stations 59 to 69. For...

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Reply Declaration of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Further comments on the impact of a delayed sale of spectrum license by Pacific Communication....

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Declaration of Peter Cramton, C and F Block Broadband PCS Auction, Federal Communications Commission (2001)

Comments on the impact of fronts in the C and F Block Broadband PCS auction.

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The Optimality of Being Efficient (with Lawrence M. Ausubel), Working Paper, University of Maryland (2001)

In an optimal auction, a revenue-optimizing seller often awards goods inefficiently, either by placing them...

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Expert Affidavit of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Comments on the impact of a delayed sale of spectrum license by Pacific Communication. For...

How Affirmative Action at the FCC Auctions Decreased the Deficit (with Ian Ayres), Pervasive Prejudice? Unconventional Evidence of Race and Gender Discrimination (2001)

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Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing? (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Blue Ribbon Panel Report, California Power Exchange (2001)

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A Review of Markets for Clean Air: The U.S. Acid Rain Program, Journal of Economic Literature (2000)

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Collusive Bidding: Lessons from the FCC Spectrum Auctions (with Jesse Schwartz), Journal of Regulatory Economics (2000)

The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid...

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Eliminating the Flaws in New England's Reserve Markets (with Jeffrey Lien), Report for ISO New England (2000)

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Lessons from the United States Spectrum Auctions, Prepared Testimony of Peter Cramton before the United States Senate Budget Committee (2000)

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Review of the Reserves and Operable Capability Markets: New England's Experience in the First Four Months, MDI Report for ISO New England (1999)

I review the performance of the operating reserves and the operable capability markets in New...

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The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM (with Lisa Cameron), Electricity Journal (1999)

Several regions of the U.S. have sought to restructure the electric power industry by separating...

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The Distributional Effects of Carbon Regulation (with Suzi Kerr), The Market and the Environment (1999)

We examine the distributional effects of carbon regulation. An auction of carbon permits is the...

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

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The Efficiency of the FCC Spectrum Auctions, Journal of Law and Economics (1998)

From July 1994 to July 1996, the Federal Communications Commission (FCC) conducted nine spectrum auctions,...

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A Review of ISO New England's Proposed Market Rules (with Robert Wilson), MDI Report for ISO New England (1998)

This report reviews the proposed rules for restructured wholesale electricity markets in New England. We...

Expert Report of Peter C. Cramton, Best Digital vs. U.S. West, American Arbitration Association, Denver Office, No. 77 181 00204 97 (1998)

Determine the value of spectrum licenses won by Best Digital in the C-block Broadband PCS...

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Ascending Auctions, European Economic Review (1998)

A key question of auction design is whether to use an ascending-bid or a sealed-bid...

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Auctioning Securities (with Lawrence M. Ausubel), Working Paper, University of Maryland (1998)

Treasury debt and other divisible securities are traditionally sold in either a pay-your-bid (discriminatory) auction...

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Simultaneous Ascending Auctions with Package Bidding (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1998)

An effective package bidding mechanism addresses three problems: the exposure problem (the risks a bidder...

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Auctions and Takeovers, New Palgrave Dictionary of Economics and the Law (1998)

Under Delaware law (the predominant corporate law in the US), when a potential acquirer makes...

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Using Auctions to Divest Generation Assets (with Lisa J. Cameron and Robert Wilson), Electricity Journal (1997)

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these...

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Package Bidding for Spectrum Licenses (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

The FCC was an innovator in adopting the rules of the simultaneous ascending-price auction for...

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Auction Design Enhancements for Non-Combinatorial Auctions (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

We evaluate a number of possible enhancements to the FCC auctions. We consider only changes...

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Auction Design for Standard Offer Service (with Andrew Parece and Robert Wilson), MDI Report (1997)

During the transition to a competitive electricity market, when a consumer does not select an...

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Reply Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

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Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

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Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions (with Lawrence M. Ausubel, R. Preston McAfee, and John McMillan), Journal of Economics and Management Strategy (1997)

We examine bid data from the first two broadband PCS spectrum auctions for evidence of...

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The FCC Spectrum Auctions: An Early Assessment, Journal of Economics and Management Strategy (1997)

This paper analyzes six spectrum auctions conducted by the Federal Communications Commission (FCC) from July...

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Deficit Reduction Through Diversity: How Affirmative Action at the FCC Increased Auction Competition (with Ian Ayres), Stanford Law Review (1996)

In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by...

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The Case for Affirmative Auction: From Conscience to Coffers (with Ian Ayres), New York Times (1995)

The Federal Communications Commission’s auction of wireless communication licenses last fall has been criticized as...

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Money Out of Thin Air: The Nationwide Narrowband PCS Auction, Journal of Economics and Management Strategy (1995)

The Federal Communications Commission held its first auction of radio spectrum at the Nationwide Narrowband...

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Using Auction Theory to Inform Takeover Regulation (with Alan Schwartz), Journal of Law, Economics, and Organization (1991)

This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware...

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Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

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ESOP Fables: The Impact of Employee Stock Ownership Plans on Labor Disputes (with Hamid Mehran and Joseph Tracy), Working Paper, University of Maryland (2008)

By the early 1990s employee stock ownership plans (ESOPs) had become as prevalent in unionized...

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Unions, Bargaining and Strikes (with Joseph Tracy), International Handbook of Trade Unions (2002)

Labor disputes are an intriguing feature of the landscape of industrialized economies. Economists have had...

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Introduction to Chapter, Game Theory in the Tradition of Bob Wilson (2002)

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Strikes and Holdouts in Wage Bargaining (with Joseph S. Tracy), Game Theory in the Tradition of Bob Wilson (2002)

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Bargaining with Incomplete Information (with Lawrence M. Ausubel and Raymond J. Deneckere), Handbook of Game Theory (2001)

A central question in economics is understanding the difficulties that parties have in reaching mutually...

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Impacts of Strike Replacement Banks in Canada (with Morley Gunderson and Joseph Tracy), Labor Law Journal (1999)

In the labor relations area no issue generates as much controversy and division between labor...

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The Effect of Collective Bargaining Legislation on Strikes and Wages (with Morley Gunderson and Joseph Tracy), Review of Economics and Statistics (1999)

Using Canadian data on large, private-sector contract negotiations from January 1967 to March 1993, we...

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), The Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

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The Use of Replacement Workers in Union Contract Negotiations: The U.S. Experience, 1980-1989 (with Joseph Tracy), Journal of Labor Economics (1998)

It is argued in many circles that a structural change occurred in U.S. collective bargaining...

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Decption and Mutual Trust: A Reply to Strudler (with J Gregory Dees), Business Ethics Quarterly (1995)

Alan Strudler has written a stimulating and provocative article about deception in negotiation. He presents...

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Ratifiable Mechanisms: Learning from Disagreement (with Thomas R. Palfrey), Games and Economic Behavior (1995)

In a mechanism design problem, participation constraints require that all types prefer the proposed mechanism...

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The Determinants of U.S. Labor Disputes (with Joseph Tracy), Journal of Labor Economics (1994)

We present a bargaining model of union contract negotiations, in which the union decides between...

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Wage Bargaining with Time-Varying Threats (with Joseph Tracy), Journal of Labor Economics (1994)

We study wage bargaining in which the union is uncertain about the firm's willingness to...

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Promoting Honesty in Negotiation: An Exercise in Practical Ethics (with J Gregory Dees), Business Ethics Quarterly (1993)

In a competitive and morally imperfect world, business people are often faced with serious ethical...

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Strategic Delay in Bargaining with Two-Sided Uncertainty, Review of Economic Studies (1992)

The role of strategic delay is analyzed in an infinite-horizon alternating-offer model of bargaining. A...

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Strikes and Holdouts in Wage Bargaining: Theory and Data (with Joseph Tracy), American Economic Review, (1992)

We develop a private-information model of union contract negotiations in which disputes signal a firm’s...

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Dynamic Bargaining with Transaction Costs, Management Science (1991)

A buyer and seller alternate making offers until an offer is accepted or someone terminates...

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Shrewd Bargaining on the Moral Frontier: Toward a Theory of Morality in Practice (with J Gregory Dees), Business Ethics Quarterly (1991)

From a traditional moral point of view, business practitioners often seem overly concerned about the...

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Cartel Enforcement with Uncertainty About Costs (with Thomas R. Palfrey), International Economic Review (1990)

What cartel agreements are possible when firms have private information about production costs? For private...

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Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

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Sequential bargaining mechanisms, Game Theoretic Models of Bargaining (1985)

The introductory discussion presented in this chapter considers the simplest type of sequential bargaining games...

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Bargaining with Incomplete Information: An Infinite-Horizon Model with Two-Sided Uncertainty, Review of Economic Studies (1984)

The resolution of any bargaining conflict depends crucially on the relative urgency of the agents...

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Forward Reliability Markets: Less Risk, Less Market Power, More Efficiency (with Steven Stoft), Utilities Policy (2008)

A forward reliability market is presented. The market coordinates new entry through the forward procurement...

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The Effect of Incumbent Bidding in Set-Aside Auctions: An Analysis of Prices in the Closed and Open Segments of FCC Auction 35 (with Allan T. Ingraham and Hal J. Singer), Telecommunications Policy (2008)

This paper examines the impact of an incumbent carrier’s participation in two simultaneously conducted auctions:...

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An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

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The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and...

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Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73 (with Gregory Rosston, Andrzej Skrzypacz, and Robert Wilson), Report for Frontline Wireless (2007)

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Economist Letter to NTIA on 700 MHz Spectrum Auction (with Andrzej Skrzypacz, Simon Wilkie, and Robert Wilson), Report for Frontline Wireless (2007)

As the 700 MHz auction approaches, we are writing to clear up a common misconception...

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Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

A common misconception is that an open access provision on a sliver of the 700...

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Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

There have been several comments that criticize auction rules that prevent the two major low-frequency...

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Economic Comments on the Design of the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

We comment on the service and auction rules discussed in the Report and Order and...

PDF

How Best to Auction Oil Rights, Escaping the Resource Curse (2007)

I study the design of oil rights auctions. A good auction design promotes both an...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Simultaneous Ascending Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

The simultaneous ascending auction has proved to be a successful method of auctioning many related...

Expert Report of Peter Cramton, D. Lamar Deloach, et al. v. Philip Morris, Inc., et al., Civil Action No. 00-CV-1253, United States District Court, Middle District of North Carolina. (2003)

For R.J. Reynolds. Concluded that R.J. Reynolds did not collude in U.S. tobacco auctions during...

PDF

Testing for Anti-Competitive Bidding in Auction Markets (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Collusive Bidding: Lessons from the FCC Spectrum Auctions (with Jesse Schwartz), Journal of Regulatory Economics (2000)

The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid...

PDF

Ascending Auctions, European Economic Review (1998)

A key question of auction design is whether to use an ascending-bid or a sealed-bid...

PDF

Cartel Enforcement with Uncertainty About Costs (with Thomas R. Palfrey), International Economic Review (1990)

What cartel agreements are possible when firms have private information about production costs? For private...

PDF

Relational Investing and Agency Theory (with Ian Ayres), Cardozo Law Review (1994)

This Article analyzes how, and when, corporate governance could be improved by utilizing "relational investing."...

PDF

Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

PDF

Foreword to Ross Baldick's 'Single Clearing Price in Electricity Markets', Compete Coalition, www.competecoalition.com (2009)

Argues that consumers and suppliers are better off with the clearing-price auction in electricity markets.

PDF

Auctioning Long-term Gas Contracts in Colombia, Report for Colombia’s Comisión de Regulación de Energía y Gas (2008)

This paper presents an approach to auctioning long-term gas contracts in Colombia. I propose an...

PDF

Forward Reliability Markets: Less Risk, Less Market Power, More Efficiency (with Steven Stoft), Utilities Policy (2008)

A forward reliability market is presented. The market coordinates new entry through the forward procurement...

PDF

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Affidavit of Peter Cramton, DC Energy, LLC v. HQ Energy Services (US) Inc., Docket No. EL07-67-000, before Federal Energy Regulatory Commission (2007)

Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of...

PDF

Colombia’s Forward Energy Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a market design for Colombia’s forward energy market, which is scheduled to...

PDF

Affidavit of Peter Cramton, The People of the State of Illinois, et al., Docket No. EL07-47-000, Federal Energy Regulatory Commission (2007)

Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction....

PDF

Product Design for Colombia’s Regulated Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to...

PDF

Affidavit of Peter Cramton, New York Independent System Operator, Docket No. ER07-360-000, Federal Energy Regulatory Commission (2007)

Affidavit identifying manipulation of New York's capacity market by KeySpan and the need for market...

PDF

Colombia Firm Energy Market (with Steven Stoft), Proceedings of the Hawaii International Conference on System Sciences (2007)

A firm energy market for Colombia is presented. Firm energy—the ability to provide energy in...

PDF

Why We Need to Stick with Uniform-Price Auctions in Electricity Markets (with Steven Stoft), Electricity Journal (2007)

Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit...

PDF

Simulation of the Colombian Firm Energy Market (with Steven Stoft), Report for Colombia’s Comisión de Regulación de Energía y Gas (2006)

We present a simulation analysis of the proposed Colombian firm energy market. The main purpose...

PDF

New England’s Forward Capacity Auction, Report for ISO New England (2006)

This note provides a brief description of New England’s Forward Capacity Auction (FCA) for the...

PDF

The Convergence of Market Designs for Adequate Generating Capacity (with Steven Stoft), Report for California Electricity Oversight Board (2006)

This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds...

PDF

Affidavit of Peter Cramton, Devon Power LLC, et al., Docket No. ER03-563-030, Federal Energy Regulatory Commission (2006)

Affidavit in support of the settlement agreement defining the New England Forward Capacity Market. For...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

A Capacity Market that Makes Sense (with Steven Stoft), Electricity Journal (2005)

We argue that a capacity market is needed in most restructured electricity markets, and present...

PDF

Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

ISO New England proposes reserve markets designed to improve the existing forward reserve market and...

PDF

Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

New England Power Pool, Federal Energy Regulatory Commission.

PDF

Competitive Bidding Behavior in Uniform-Price Auction Markets, Proceedings of the Hawaii International Conference on System Sciences (2004)

Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is...

PDF

Competitive Bidding Behavior in Uniform-Price Auction Markets, Report before the Federal Energy Regulatory Commission, on behalf of Duke Energy (2003)

Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is...

PDF

Competitive Bidding Behavior in Uniform-Price Auction Markets, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

For Duke Energy.

PDF

Rebuttal Addendum: Assessment of Submissions of the California Parties, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

PDF

Electricity Market Design: The Good, the Bad, and the Ugly, Proceedings of the Hawaii International Conference on System Sciences (2003)

This paper examines principles of market design as applied to electricity markets. I illustrate the...

PDF

Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

PDF

Affidavit of Peter Cramton, ISO New England, Docket No. ER02, Federal Energy Regulatory Commission (2002)

Comments on proposed changes to how the energy clearing price is calculated. For ISO New...

PDF

Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Electricity Journal (2001)

Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial...

PDF

Affidavit of Peter Cramton, ISO New England, Docket No. EL00-62-015, Federal Energy Regulatory Commission (2001)

Comment on modifications to installed capability market. For ISO New England.

PDF

Market Effectiveness Assessment (with Jeffrey Lien), An expert report assessing the effectiveness of the electricity restructuring plan in Ontario. For Transcanada. (2001)

PDF

Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing? (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Blue Ribbon Panel Report, California Power Exchange (2001)

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Comment on deficiency charge in installed capability market. For ISO New England.

PDF

Affidavit of Peter Cramton, NSTAR Services Company vs. New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Further comments on energy price cap as a response to design flaws. For ISO New...

PDF

Affidavit of Peter Cramton, NSTAR Services Company vs. New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Comments on energy price cap as a response to design flaws. For ISO New England.

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. EL00-62-000; ER00-2052-000, Federal Energy Regulatory Commission (2000)

Comments on installed capability market. For ISO New England.

PDF

Collusive Bidding: Lessons from the FCC Spectrum Auctions (with Jesse Schwartz), Journal of Regulatory Economics (2000)

The Federal Communications Commission (FCC) spectrum auctions use a simultaneous ascending auction design. Bidders bid...

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. ER00-2016-000, Federal Energy Regulatory Commission (2000)

Comments on one-part vs. three-part bidding in energy market. For ISO New England.

PDF

Eliminating the Flaws in New England's Reserve Markets (with Jeffrey Lien), Report for ISO New England (2000)

PDF

Review of the Reserves and Operable Capability Markets: New England's Experience in the First Four Months, MDI Report for ISO New England (1999)

I review the performance of the operating reserves and the operable capability markets in New...

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. ER99-4536-000, Federal Energy Regulatory Commission (1999)

Summary of review of reserves and operable capability markets. For ISO New England.

PDF

The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM (with Lisa Cameron), Electricity Journal (1999)

Several regions of the U.S. have sought to restructure the electric power industry by separating...

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. OA97-237-000, Federal Energy Regulatory Commission (1998)

Reply to comments on review of rules. For ISO New England.

PDF

A Review of ISO New England's Proposed Market Rules (with Robert Wilson), MDI Report for ISO New England (1998)

This report reviews the proposed rules for restructured wholesale electricity markets in New England. We...

PDF

A Review of ISO New England's Proposed Market Rules (with Robert Wilson), New England Power Pool, Docket No. OA97-237-000, Federal Energy Regulatory Commission (1998)

For ISO New England.

PDF

Using Auctions to Divest Generation Assets (with Lisa J. Cameron and Robert Wilson), Electricity Journal (1997)

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these...

PDF

Auction Design for Standard Offer Service (with Andrew Parece and Robert Wilson), MDI Report (1997)

During the transition to a competitive electricity market, when a consumer does not select an...

PDF

Report on Key Design Elements of Auctions Under Australia's Carbon Pollution Reduction Scheme, Tradeslot Report to Australian Department of Climate Change, [Ch. 9 Auction Design, Australian White Paper] (2008)

PDF

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Comments on the RGGI Market Design, Report for ISO New England and NYISO (2007)

PDF

Possible Design for a Greenhouse Gas Emissions Trading System, Report for Australia National Emissions Trading Taskforce (2007)

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Comments on DOC Notice of Preliminary Results of Countervailing Duty Review (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2004)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Upset Pricing in Auction Markets: An Overview (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2003)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

An Analysis of Auction Volume and Market Competition for the Coastal Forest Regions in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Reserve Prices, Stumpage Fees, and Efficiency (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Setting the Upset Price in British Columbia Timber Auctions (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Auctioning Timber to Maximize Revenues in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

A Comparison of Equation-Based and Parity Pricing of Stumpage Fees for British Columbia Timber Under Long-Term Tenures (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Auction-Based Timber Pricing and Complementary Market Reforms in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Testing for Anti-Competitive Bidding in Auction Markets (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather (with Suzi Kerr), Energy Policy (2002)

An auction of carbon permits is the best way to achieve carbon caps set by...

PDF

A Review of Markets for Clean Air: The U.S. Acid Rain Program, Journal of Economic Literature (2000)

PDF

The Distributional Effects of Carbon Regulation (with Suzi Kerr), The Market and the Environment (1999)

We examine the distributional effects of carbon regulation. An auction of carbon permits is the...

PDF

Nonrandom Mixing Models of HIV Transmission (with Edward H. Kaplan and A. David Paltiel), Mathematical and Statistical Approaches to AIDS Epidemiology (1989)

Models of HIV transmission and the AIDS epidemic generally assume random mixing among those infected...

Link

Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction (with Lawrence M. Ausubel, Emel Feliz-Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking), Working Paper, University of Maryland (2008)

We experimentally test alternative auction designs suitable for pricing and removing troubled assets from banks’...

PDF

A Review of the 10-40 GHz Auction, Report for UK Office of Communications (2008)

In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction....

PDF

A Review of the L-Band Auction, Report for UK Office of Communications (2008)

In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

We summarize the results of a project that was motivated by the expiration of the...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

A Two-Sided Auction for Legacy Loans (2009)

On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a...

PDF

Making Sense of the Aggregator Bank (with Lawrence M. Ausubel), The Economists' Voice (2009)

On Tuesday, 10 February 2009, Treasury Secretary Geithner proposed the aggregator bank ("public-private investment fund")...

PDF

No Substitute for the "P" Word in Financial Rescue (with Lawrence M. Ausubel), The Economists' Voice (2009)

Fears of pricing troubled assets have needlessly stalled the rescue effort, according to Lawrence Ausubel...

Link

Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction (with Lawrence M. Ausubel, Emel Feliz-Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking), Working Paper, University of Maryland (2008)

We experimentally test alternative auction designs suitable for pricing and removing troubled assets from banks’...

PDF

Auctions for Injecting Bank Capital (Addendum to 'A Troubled Asset Reverse Auction') (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

Public discussion has turned, in the past few days, toward using some of the $700...

PDF

A Troubled Asset Reverse Auction (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

The US Treasury has proposed purchasing $700 billion of troubled assets to restore liquidity and...

PDF

Auction Design Critical for Rescue Plan (with Lawrence M. Ausubel), The Economists' Voice (2008)

The details of the auction design could make or break the Treasury's plan to invest...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

PDF

Auctioning Securities (with Lawrence M. Ausubel), Working Paper, University of Maryland (1998)

Treasury debt and other divisible securities are traditionally sold in either a pay-your-bid (discriminatory) auction...

PDF

Auctions and Takeovers, New Palgrave Dictionary of Economics and the Law (1998)

Under Delaware law (the predominant corporate law in the US), when a potential acquirer makes...

PDF

Relational Investing and Agency Theory (with Ian Ayres), Cardozo Law Review (1994)

This Article analyzes how, and when, corporate governance could be improved by utilizing "relational investing."...

PDF

Using Auction Theory to Inform Takeover Regulation (with Alan Schwartz), Journal of Law, Economics, and Organization (1991)

This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware...

PDF

Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

A common misconception is that an open access provision on a sliver of the 700...

PDF

Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

There have been several comments that criticize auction rules that prevent the two major low-frequency...

PDF

Product Design for Colombia’s Regulated Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to...

PDF

Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

We summarize the results of a project that was motivated by the expiration of the...

PDF

Why We Need to Stick with Uniform-Price Auctions in Electricity Markets (with Steven Stoft), Electricity Journal (2007)

Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit...

PDF

Simulation of the Colombian Firm Energy Market (with Steven Stoft), Report for Colombia’s Comisión de Regulación de Energía y Gas (2006)

We present a simulation analysis of the proposed Colombian firm energy market. The main purpose...

PDF

The Convergence of Market Designs for Adequate Generating Capacity (with Steven Stoft), Report for California Electricity Oversight Board (2006)

This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

A Capacity Market that Makes Sense (with Steven Stoft), Electricity Journal (2005)

We argue that a capacity market is needed in most restructured electricity markets, and present...

PDF

Electricity Market Design: The Good, the Bad, and the Ugly, Proceedings of the Hawaii International Conference on System Sciences (2003)

This paper examines principles of market design as applied to electricity markets. I illustrate the...

PDF

Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing? (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Blue Ribbon Panel Report, California Power Exchange (2001)

PDF

Eliminating the Flaws in New England's Reserve Markets (with Jeffrey Lien), Report for ISO New England (2000)

PDF

Review of the Reserves and Operable Capability Markets: New England's Experience in the First Four Months, MDI Report for ISO New England (1999)

I review the performance of the operating reserves and the operable capability markets in New...

PDF

The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM (with Lisa Cameron), Electricity Journal (1999)

Several regions of the U.S. have sought to restructure the electric power industry by separating...

PDF

Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

PDF

Using Auctions to Divest Generation Assets (with Lisa J. Cameron and Robert Wilson), Electricity Journal (1997)

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these...

PDF

ESOP Fables: The Impact of Employee Stock Ownership Plans on Labor Disputes (with Hamid Mehran and Joseph Tracy), Working Paper, University of Maryland (2008)

By the early 1990s employee stock ownership plans (ESOPs) had become as prevalent in unionized...

PDF

Unions, Bargaining and Strikes (with Joseph Tracy), International Handbook of Trade Unions (2002)

Labor disputes are an intriguing feature of the landscape of industrialized economies. Economists have had...

PDF

Introduction to Chapter, Game Theory in the Tradition of Bob Wilson (2002)

PDF

Strikes and Holdouts in Wage Bargaining (with Joseph S. Tracy), Game Theory in the Tradition of Bob Wilson (2002)

PDF

Impacts of Strike Replacement Banks in Canada (with Morley Gunderson and Joseph Tracy), Labor Law Journal (1999)

In the labor relations area no issue generates as much controversy and division between labor...

PDF

The Effect of Collective Bargaining Legislation on Strikes and Wages (with Morley Gunderson and Joseph Tracy), Review of Economics and Statistics (1999)

Using Canadian data on large, private-sector contract negotiations from January 1967 to March 1993, we...

PDF

The Use of Replacement Workers in Union Contract Negotiations: The U.S. Experience, 1980-1989 (with Joseph Tracy), Journal of Labor Economics (1998)

It is argued in many circles that a structural change occurred in U.S. collective bargaining...

PDF

The Determinants of U.S. Labor Disputes (with Joseph Tracy), Journal of Labor Economics (1994)

We present a bargaining model of union contract negotiations, in which the union decides between...

PDF

Wage Bargaining with Time-Varying Threats (with Joseph Tracy), Journal of Labor Economics (1994)

We study wage bargaining in which the union is uncertain about the firm's willingness to...

PDF

Strategic Delay in Bargaining with Two-Sided Uncertainty, Review of Economic Studies (1992)

The role of strategic delay is analyzed in an infinite-horizon alternating-offer model of bargaining. A...

PDF

Strikes and Holdouts in Wage Bargaining: Theory and Data (with Joseph Tracy), American Economic Review, (1992)

We develop a private-information model of union contract negotiations in which disputes signal a firm’s...

PDF

Cartel Enforcement with Uncertainty About Costs (with Thomas R. Palfrey), International Economic Review (1990)

What cartel agreements are possible when firms have private information about production costs? For private...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

PDF

Strategic Delay in Bargaining with Two-Sided Uncertainty, Review of Economic Studies (1992)

The role of strategic delay is analyzed in an infinite-horizon alternating-offer model of bargaining. A...

PDF

Strikes and Holdouts in Wage Bargaining: Theory and Data (with Joseph Tracy), American Economic Review, (1992)

We develop a private-information model of union contract negotiations in which disputes signal a firm’s...

PDF

Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

PDF

Pricing Rule in a Clock Auction (with Pacharasut Sujarittanonta), Working Paper, University of Maryland (2009)

We analyze a discrete clock auction with lowest-accepted bid (LAB) pricing and provisional winners, as...

PDF

Spectrum Auction Design, Working Paper, University of Maryland (2009)

Spectrum auctions are used by governments to assign and price licenses for wireless communications. The...

PDF

A Two-Sided Auction for Legacy Loans (2009)

On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a...

PDF

Foreword to Ross Baldick's 'Single Clearing Price in Electricity Markets', Compete Coalition, www.competecoalition.com (2009)

Argues that consumers and suppliers are better off with the clearing-price auction in electricity markets.

PDF

Auctioning the Digital Dividend, Communications Regulation in the Age of Digital Convergence: Legal and Economic Perspectives (2009)

I begin by describing some of the problems of the simultaneous ascending auction. Then I...

PDF

How Best to Auction Natural Resources, Handbook of Oil, Gas And Mineral Taxation (2009)

I study the design of auctions of natural resources, such as oil or mineral rights....

Link

Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction (with Lawrence M. Ausubel, Emel Feliz-Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking), Working Paper, University of Maryland (2008)

We experimentally test alternative auction designs suitable for pricing and removing troubled assets from banks’...

PDF

Auctions for Injecting Bank Capital (Addendum to 'A Troubled Asset Reverse Auction') (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

Public discussion has turned, in the past few days, toward using some of the $700...

PDF

Report on Key Design Elements of Auctions Under Australia's Carbon Pollution Reduction Scheme, Tradeslot Report to Australian Department of Climate Change, [Ch. 9 Auction Design, Australian White Paper] (2008)

PDF

A Review of the 10-40 GHz Auction, Report for UK Office of Communications (2008)

In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction....

PDF

A Review of the L-Band Auction, Report for UK Office of Communications (2008)

In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The...

PDF

A Troubled Asset Reverse Auction (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

The US Treasury has proposed purchasing $700 billion of troubled assets to restore liquidity and...

PDF

Auctioning Long-term Gas Contracts in Colombia, Report for Colombia’s Comisión de Regulación de Energía y Gas (2008)

This paper presents an approach to auctioning long-term gas contracts in Colombia. I propose an...

PDF

The Quadratic Core-Selecting Payment Rule for Combinatorial Auctions (with Robert Day), Working Paper, University of Maryland (2008)

We report on the use of a quadratic programming technique in recent and upcoming spectrum...

PDF

Forward Reliability Markets: Less Risk, Less Market Power, More Efficiency (with Steven Stoft), Utilities Policy (2008)

A forward reliability market is presented. The market coordinates new entry through the forward procurement...

PDF

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

PDF

Market Design: Auctions and Matching, Better Living Through Economics (2008)

PDF

The Effect of Incumbent Bidding in Set-Aside Auctions: An Analysis of Prices in the Closed and Open Segments of FCC Auction 35 (with Allan T. Ingraham and Hal J. Singer), Telecommunications Policy (2008)

This paper examines the impact of an incumbent carrier’s participation in two simultaneously conducted auctions:...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Comments on the RGGI Market Design, Report for ISO New England and NYISO (2007)

PDF

The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and...

PDF

Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73 (with Gregory Rosston, Andrzej Skrzypacz, and Robert Wilson), Report for Frontline Wireless (2007)

PDF

Affidavit of Peter Cramton, DC Energy, LLC v. HQ Energy Services (US) Inc., Docket No. EL07-67-000, before Federal Energy Regulatory Commission (2007)

Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of...

PDF

Colombia’s Forward Energy Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a market design for Colombia’s forward energy market, which is scheduled to...

PDF

Possible Design for a Greenhouse Gas Emissions Trading System, Report for Australia National Emissions Trading Taskforce (2007)

PDF

Economist Letter to NTIA on 700 MHz Spectrum Auction (with Andrzej Skrzypacz, Simon Wilkie, and Robert Wilson), Report for Frontline Wireless (2007)

As the 700 MHz auction approaches, we are writing to clear up a common misconception...

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Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

A common misconception is that an open access provision on a sliver of the 700...

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Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

There have been several comments that criticize auction rules that prevent the two major low-frequency...

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Economic Comments on the Design of the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

We comment on the service and auction rules discussed in the Report and Order and...

PDF

Affidavit of Peter Cramton, The People of the State of Illinois, et al., Docket No. EL07-47-000, Federal Energy Regulatory Commission (2007)

Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction....

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Product Design for Colombia’s Regulated Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to...

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Why Large Licenses Are Best for the 700 MHz Spectrum Auction, Before the Federal Communications Commission, on behalf of Verizon Wireless (2007)

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Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

We summarize the results of a project that was motivated by the expiration of the...

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Affidavit of Peter Cramton, New York Independent System Operator, Docket No. ER07-360-000, Federal Energy Regulatory Commission (2007)

Affidavit identifying manipulation of New York's capacity market by KeySpan and the need for market...

PDF

Colombia Firm Energy Market (with Steven Stoft), Proceedings of the Hawaii International Conference on System Sciences (2007)

A firm energy market for Colombia is presented. Firm energy—the ability to provide energy in...

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How Best to Auction Oil Rights, Escaping the Resource Curse (2007)

I study the design of oil rights auctions. A good auction design promotes both an...

PDF

Why We Need to Stick with Uniform-Price Auctions in Electricity Markets (with Steven Stoft), Electricity Journal (2007)

Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit...

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Simulation of the Colombian Firm Energy Market (with Steven Stoft), Report for Colombia’s Comisión de Regulación de Energía y Gas (2006)

We present a simulation analysis of the proposed Colombian firm energy market. The main purpose...

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New England’s Forward Capacity Auction, Report for ISO New England (2006)

This note provides a brief description of New England’s Forward Capacity Auction (FCA) for the...

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The Convergence of Market Designs for Adequate Generating Capacity (with Steven Stoft), Report for California Electricity Oversight Board (2006)

This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds...

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Affidavit of Peter Cramton, Devon Power LLC, et al., Docket No. ER03-563-030, Federal Energy Regulatory Commission (2006)

Affidavit in support of the settlement agreement defining the New England Forward Capacity Market. For...

PDF

Ex Parte of Peter Cramton, AWS Auction, Federal Communications Commission, on behalf of T-Mobile (2006)

Ex parte communication on various auction rules for the AWS auction.

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Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

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Reply Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Reply declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Dynamic Auctions in Procurement (with Lawrence M. Ausubel), Handbook of Procurement (2006)

We study the theory and practical implementation of dynamic procurement auctions. We consider the procurement...

PDF

Introduction to Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

Combinatorial auctions are those auctions in which bidders can place bids on combinations of items,...

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Simultaneous Ascending Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

The simultaneous ascending auction has proved to be a successful method of auctioning many related...

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The Clock-Proxy Auction: A Practical Combinatorial Auction Design (with Lawrence M. Ausubel), Combinatorial Auctions (2006)

We propose the clock-proxy auction as a practical means for auctioning many related items. A...

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Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

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A Capacity Market that Makes Sense (with Steven Stoft), Electricity Journal (2005)

We argue that a capacity market is needed in most restructured electricity markets, and present...

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Comments on DOC Notice of Preliminary Results of Countervailing Duty Review (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

ISO New England proposes reserve markets designed to improve the existing forward reserve market and...

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Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

New England Power Pool, Federal Energy Regulatory Commission.

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Vickrey Auctions with Reserve Pricing (with Lawrence M. Ausubel), Economic Theory (2004)

We generalize the Vickrey auction to allow for reserve pricing in a multi-unit auction with...

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Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2004)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Estimating Auction Revenues for the Proposed FCC Sale of 3G Spectrum for Broadband and Advanced Wireless Services, Criterion Auctions Report for U.S. Department of Defense (2003)

Expert Report of Peter Cramton, D. Lamar Deloach, et al. v. Philip Morris, Inc., et al., Civil Action No. 00-CV-1253, United States District Court, Middle District of North Carolina. (2003)

For R.J. Reynolds. Concluded that R.J. Reynolds did not collude in U.S. tobacco auctions during...

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Competitive Bidding Behavior in Uniform-Price Auction Markets, Report before the Federal Energy Regulatory Commission, on behalf of Duke Energy (2003)

Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is...

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Competitive Bidding Behavior in Uniform-Price Auction Markets, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

For Duke Energy.

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Rebuttal Addendum: Assessment of Submissions of the California Parties, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

PDF

Upset Pricing in Auction Markets: An Overview (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2003)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Electricity Market Design: The Good, the Bad, and the Ugly, Proceedings of the Hawaii International Conference on System Sciences (2003)

This paper examines principles of market design as applied to electricity markets. I illustrate the...

PDF

An Analysis of Auction Volume and Market Competition for the Coastal Forest Regions in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Reserve Prices, Stumpage Fees, and Efficiency (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Setting the Upset Price in British Columbia Timber Auctions (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

PDF

Auctioning Timber to Maximize Revenues in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Comments on Alternative Policy Options for Managing Capacity and Mitigating Congestion and Delay at LaGuardia Airport, U.S. Department of Transportation, Docket Nos. FAA–2001–9852, FAA–2001–9854 (2002)

Recommending auctions to manage congestion at LaGuardia.

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A Comparison of Equation-Based and Parity Pricing of Stumpage Fees for British Columbia Timber Under Long-Term Tenures (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Auction-Based Timber Pricing and Complementary Market Reforms in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Testing for Anti-Competitive Bidding in Auction Markets (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Affidavit of Peter Cramton, ISO New England, Docket No. ER02, Federal Energy Regulatory Commission (2002)

Comments on proposed changes to how the energy clearing price is calculated. For ISO New...

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Declaration of Peter Cramton, Verizon Wireless Petition for Permanent Forbearance from CMRS Number Portability, Federal Communications Commission, WT Docket No. 01-184 (2002)

Comments in support of wireless number portability. For Leap Wireless.

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Spectrum Auctions, Handbook of Telecommunications Economics (2002)

Auctions have emerged as the primary means of assigning spectrum licenses to companies wishing to...

PDF

Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather (with Suzi Kerr), Energy Policy (2002)

An auction of carbon permits is the best way to achieve carbon caps set by...

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Ex Parte Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Further comments on the CMRS spectrum cap. For Leap Wireless.

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Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Electricity Journal (2001)

Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial...

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Affidavit of Peter Cramton, ISO New England, Docket No. EL00-62-015, Federal Energy Regulatory Commission (2001)

Comment on modifications to installed capability market. For ISO New England.

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Lessons Learned from the UK 3G Spectrum Auction, Report on the UK 3G Spectrum Auction. For UK National Audit Office. (2001)

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Market Effectiveness Assessment (with Jeffrey Lien), An expert report assessing the effectiveness of the electricity restructuring plan in Ontario. For Transcanada. (2001)

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2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission, "Declaration of Peter Cramton,", Comments on the CMRS spectrum cap. For Leap Wireless. (2001)

Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Comments on the CMRS spectrum cap. For Leap Wireless.

Expert Report of Peter Cramton, First Millennium Communications, Inc. and Barbara Laurence vs. Entravision Communications Company, No. 1420009074 (2001)

Comment on the value of clearing rights for broadcast television stations 59 to 69. For...

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Reply Declaration of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Further comments on the impact of a delayed sale of spectrum license by Pacific Communication....

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Declaration of Peter Cramton, C and F Block Broadband PCS Auction, Federal Communications Commission (2001)

Comments on the impact of fronts in the C and F Block Broadband PCS auction.

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The Optimality of Being Efficient (with Lawrence M. Ausubel), Working Paper, University of Maryland (2001)

In an optimal auction, a revenue-optimizing seller often awards goods inefficiently, either by placing them...

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Expert Affidavit of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Comments on the impact of a delayed sale of spectrum license by Pacific Communication. For...

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Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing? (with Alfred E. Kahn, Robert H. Porter, and Richard D. Tabors), Blue Ribbon Panel Report, California Power Exchange (2001)

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Affidavit of Peter Cramton, New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Comment on deficiency charge in installed capability market. For ISO New England.

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Affidavit of Peter Cramton, NSTAR Services Company vs. New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Further comments on energy price cap as a response to design flaws. For ISO New...

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Affidavit of Peter Cramton, NSTAR Services Company vs. New England Power Pool, Docket No. EL00-83-000, Federal Energy Regulatory Commission (2000)

Comments on energy price cap as a response to design flaws. For ISO New England.

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Affidavit of Peter Cramton, New England Power Pool, Docket No. EL00-62-000; ER00-2052-000, Federal Energy Regulatory Commission (2000)

Comments on installed capability market. For ISO New England.

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Affidavit of Peter Cramton, New England Power Pool, Docket No. ER00-2016-000, Federal Energy Regulatory Commission (2000)

Comments on one-part vs. three-part bidding in energy market. For ISO New England.

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Eliminating the Flaws in New England's Reserve Markets (with Jeffrey Lien), Report for ISO New England (2000)

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Lessons from the United States Spectrum Auctions, Prepared Testimony of Peter Cramton before the United States Senate Budget Committee (2000)

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Review of the Reserves and Operable Capability Markets: New England's Experience in the First Four Months, MDI Report for ISO New England (1999)

I review the performance of the operating reserves and the operable capability markets in New...

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Affidavit of Peter Cramton, New England Power Pool, Docket No. ER99-4536-000, Federal Energy Regulatory Commission (1999)

Summary of review of reserves and operable capability markets. For ISO New England.

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The Distributional Effects of Carbon Regulation (with Suzi Kerr), The Market and the Environment (1999)

We examine the distributional effects of carbon regulation. An auction of carbon permits is the...

PDF

Affidavit of Peter Cramton, New England Power Pool, Docket No. OA97-237-000, Federal Energy Regulatory Commission (1998)

Reply to comments on review of rules. For ISO New England.

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), The Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

PDF

A Review of ISO New England's Proposed Market Rules (with Robert Wilson), MDI Report for ISO New England (1998)

This report reviews the proposed rules for restructured wholesale electricity markets in New England. We...

PDF

A Review of ISO New England's Proposed Market Rules (with Robert Wilson), New England Power Pool, Docket No. OA97-237-000, Federal Energy Regulatory Commission (1998)

For ISO New England.

Expert Report of Peter C. Cramton, Best Digital vs. U.S. West, American Arbitration Association, Denver Office, No. 77 181 00204 97 (1998)

Determine the value of spectrum licenses won by Best Digital in the C-block Broadband PCS...

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Ascending Auctions, European Economic Review (1998)

A key question of auction design is whether to use an ascending-bid or a sealed-bid...

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Simultaneous Ascending Auctions with Package Bidding (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1998)

An effective package bidding mechanism addresses three problems: the exposure problem (the risks a bidder...

PDF

Using Auctions to Divest Generation Assets (with Lisa J. Cameron and Robert Wilson), Electricity Journal (1997)

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these...

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Package Bidding for Spectrum Licenses (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

The FCC was an innovator in adopting the rules of the simultaneous ascending-price auction for...

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Auction Design Enhancements for Non-Combinatorial Auctions (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

We evaluate a number of possible enhancements to the FCC auctions. We consider only changes...

PDF

Auction Design for Standard Offer Service (with Andrew Parece and Robert Wilson), MDI Report (1997)

During the transition to a competitive electricity market, when a consumer does not select an...

PDF

Reply Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

PDF

Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

PDF

The FCC Spectrum Auctions: An Early Assessment, Journal of Economics and Management Strategy (1997)

This paper analyzes six spectrum auctions conducted by the Federal Communications Commission (FCC) from July...

PDF

Deficit Reduction Through Diversity: How Affirmative Action at the FCC Increased Auction Competition (with Ian Ayres), Stanford Law Review (1996)

In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by...

PDF

Money Out of Thin Air: The Nationwide Narrowband PCS Auction, Journal of Economics and Management Strategy (1995)

The Federal Communications Commission held its first auction of radio spectrum at the Nationwide Narrowband...

PDF

Cartel Enforcement with Uncertainty About Costs (with Thomas R. Palfrey), International Economic Review (1990)

What cartel agreements are possible when firms have private information about production costs? For private...

PDF

Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

PDF

Market Design: Auctions and Matching, Better Living Through Economics (2008)

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Ratifiable Mechanisms: Learning from Disagreement (with Thomas R. Palfrey), Games and Economic Behavior (1995)

In a mechanism design problem, participation constraints require that all types prefer the proposed mechanism...

PDF

Relational Investing and Agency Theory (with Ian Ayres), Cardozo Law Review (1994)

This Article analyzes how, and when, corporate governance could be improved by utilizing "relational investing."...

PDF

Cartel Enforcement with Uncertainty About Costs (with Thomas R. Palfrey), International Economic Review (1990)

What cartel agreements are possible when firms have private information about production costs? For private...

PDF

Dissolving a Partnership Efficiently (with Robert Gibbons and Paul Klemperer), Econometrica (1987)

Several partners jointly own an asset that may be traded among them. Each partner has...

PDF

How Best to Auction Natural Resources, Handbook of Oil, Gas And Mineral Taxation (2009)

I study the design of auctions of natural resources, such as oil or mineral rights....

PDF

Report on Key Design Elements of Auctions Under Australia's Carbon Pollution Reduction Scheme, Tradeslot Report to Australian Department of Climate Change, [Ch. 9 Auction Design, Australian White Paper] (2008)

PDF

Auctioning Long-term Gas Contracts in Colombia, Report for Colombia’s Comisión de Regulación de Energía y Gas (2008)

This paper presents an approach to auctioning long-term gas contracts in Colombia. I propose an...

PDF

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

Comments on the RGGI Market Design, Report for ISO New England and NYISO (2007)

PDF

Possible Design for a Greenhouse Gas Emissions Trading System, Report for Australia National Emissions Trading Taskforce (2007)

PDF

How Best to Auction Oil Rights, Escaping the Resource Curse (2007)

I study the design of oil rights auctions. A good auction design promotes both an...

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Comments on DOC Notice of Preliminary Results of Countervailing Duty Review (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2004)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Upset Pricing in Auction Markets: An Overview (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2003)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

An Analysis of Auction Volume and Market Competition for the Coastal Forest Regions in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Reserve Prices, Stumpage Fees, and Efficiency (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Setting the Upset Price in British Columbia Timber Auctions (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Auctioning Timber to Maximize Revenues in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

A Comparison of Equation-Based and Parity Pricing of Stumpage Fees for British Columbia Timber Under Long-Term Tenures (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Auction-Based Timber Pricing and Complementary Market Reforms in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Testing for Anti-Competitive Bidding in Auction Markets (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.

PDF

Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather (with Suzi Kerr), Energy Policy (2002)

An auction of carbon permits is the best way to achieve carbon caps set by...

PDF

A Review of Markets for Clean Air: The U.S. Acid Rain Program, Journal of Economic Literature (2000)

PDF

The Distributional Effects of Carbon Regulation (with Suzi Kerr), The Market and the Environment (1999)

We examine the distributional effects of carbon regulation. An auction of carbon permits is the...

PDF

Pricing Rule in a Clock Auction (with Pacharasut Sujarittanonta), Working Paper, University of Maryland (2009)

We analyze a discrete clock auction with lowest-accepted bid (LAB) pricing and provisional winners, as...

PDF

Spectrum Auction Design, Working Paper, University of Maryland (2009)

Spectrum auctions are used by governments to assign and price licenses for wireless communications. The...

PDF

Auctioning the Digital Dividend, Communications Regulation in the Age of Digital Convergence: Legal and Economic Perspectives (2009)

I begin by describing some of the problems of the simultaneous ascending auction. Then I...

PDF

A Review of the 10-40 GHz Auction, Report for UK Office of Communications (2008)

In February 2008, Ofcom’s 10-40 GHz auction concluded. This was Ofcom’s first combinatorial clock auction....

PDF

A Review of the L-Band Auction, Report for UK Office of Communications (2008)

In May 2008, Ofcom’s L-band auction concluded. This was Ofcom’s second combinatorial clock auction. The...

PDF

The Quadratic Core-Selecting Payment Rule for Combinatorial Auctions (with Robert Day), Working Paper, University of Maryland (2008)

We report on the use of a quadratic programming technique in recent and upcoming spectrum...

PDF

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport...

PDF

The Effect of Incumbent Bidding in Set-Aside Auctions: An Analysis of Prices in the Closed and Open Segments of FCC Auction 35 (with Allan T. Ingraham and Hal J. Singer), Telecommunications Policy (2008)

This paper examines the impact of an incumbent carrier’s participation in two simultaneously conducted auctions:...

PDF

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

PDF

The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and...

PDF

Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73 (with Gregory Rosston, Andrzej Skrzypacz, and Robert Wilson), Report for Frontline Wireless (2007)

PDF

Economist Letter to NTIA on 700 MHz Spectrum Auction (with Andrzej Skrzypacz, Simon Wilkie, and Robert Wilson), Report for Frontline Wireless (2007)

As the 700 MHz auction approaches, we are writing to clear up a common misconception...

PDF

Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

A common misconception is that an open access provision on a sliver of the 700...

PDF

Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

There have been several comments that criticize auction rules that prevent the two major low-frequency...

PDF

Economic Comments on the Design of the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

We comment on the service and auction rules discussed in the Report and Order and...

PDF

Why Large Licenses Are Best for the 700 MHz Spectrum Auction, Before the Federal Communications Commission, on behalf of Verizon Wireless (2007)

PDF

Ex Parte of Peter Cramton, AWS Auction, Federal Communications Commission, on behalf of T-Mobile (2006)

Ex parte communication on various auction rules for the AWS auction.

PDF

Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

PDF

Reply Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Reply declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.

PDF

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

PDF

Simultaneous Ascending Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

The simultaneous ascending auction has proved to be a successful method of auctioning many related...

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The Clock-Proxy Auction: A Practical Combinatorial Auction Design (with Lawrence M. Ausubel), Combinatorial Auctions (2006)

We propose the clock-proxy auction as a practical means for auctioning many related items. A...

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Estimating Auction Revenues for the Proposed FCC Sale of 3G Spectrum for Broadband and Advanced Wireless Services, Criterion Auctions Report for U.S. Department of Defense (2003)

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Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are...

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Declaration of Peter Cramton, Verizon Wireless Petition for Permanent Forbearance from CMRS Number Portability, Federal Communications Commission, WT Docket No. 01-184 (2002)

Comments in support of wireless number portability. For Leap Wireless.

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Collusive Bidding in the FCC Spectrum Auctions (with Jesse A. Schwartz), Contributions in Economic Analysis & Policy (2002)

This paper describes the bid signaling that occurred in many of the FCC spectrum auctions....

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Spectrum Auctions, Handbook of Telecommunications Economics (2002)

Auctions have emerged as the primary means of assigning spectrum licenses to companies wishing to...

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Ex Parte Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Further comments on the CMRS spectrum cap. For Leap Wireless.

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Lessons Learned from the UK 3G Spectrum Auction, Report on the UK 3G Spectrum Auction. For UK National Audit Office. (2001)

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2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission, "Declaration of Peter Cramton,", Comments on the CMRS spectrum cap. For Leap Wireless. (2001)

Declaration of Peter Cramton, 2000 Biennial Regulatory Review Spectrum Aggregation Limits For Commercial Mobile Radio Services, WT Docket No. 01-14, Federal Communications Commission (2001)

Comments on the CMRS spectrum cap. For Leap Wireless.

Expert Report of Peter Cramton, First Millennium Communications, Inc. and Barbara Laurence vs. Entravision Communications Company, No. 1420009074 (2001)

Comment on the value of clearing rights for broadcast television stations 59 to 69. For...

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Reply Declaration of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Further comments on the impact of a delayed sale of spectrum license by Pacific Communication....

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Declaration of Peter Cramton, C and F Block Broadband PCS Auction, Federal Communications Commission (2001)

Comments on the impact of fronts in the C and F Block Broadband PCS auction.

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Expert Affidavit of Peter Cramton, Pacific Communications vs. American Wireless, Superior Court of Fulton County, Georgia, No. 2000CV20099 (2001)

Comments on the impact of a delayed sale of spectrum license by Pacific Communication. For...

How Affirmative Action at the FCC Auctions Decreased the Deficit (with Ian Ayres), Pervasive Prejudice? Unconventional Evidence of Race and Gender Discrimination (2001)

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Lessons from the United States Spectrum Auctions, Prepared Testimony of Peter Cramton before the United States Senate Budget Committee (2000)

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

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Efficient Relocation of Spectrum Incumbents (with Evan Kwerel and John Williams), The Journal of Law and Economics (1998)

Changes in technologies and in consumer demands have made prior radio spectrum allocations far from...

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The Efficiency of the FCC Spectrum Auctions, Journal of Law and Economics (1998)

From July 1994 to July 1996, the Federal Communications Commission (FCC) conducted nine spectrum auctions,...

Expert Report of Peter C. Cramton, Best Digital vs. U.S. West, American Arbitration Association, Denver Office, No. 77 181 00204 97 (1998)

Determine the value of spectrum licenses won by Best Digital in the C-block Broadband PCS...

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Ascending Auctions, European Economic Review (1998)

A key question of auction design is whether to use an ascending-bid or a sealed-bid...

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Simultaneous Ascending Auctions with Package Bidding (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1998)

An effective package bidding mechanism addresses three problems: the exposure problem (the risks a bidder...

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Package Bidding for Spectrum Licenses (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

The FCC was an innovator in adopting the rules of the simultaneous ascending-price auction for...

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Auction Design Enhancements for Non-Combinatorial Auctions (with John McMillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, and Robert Wilson), MDI Report to the Federal Communications Commission (1997)

We evaluate a number of possible enhancements to the FCC auctions. We consider only changes...

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Reply Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

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Statement on the Effect of NextWave’s Participation in the C-block Auction on Antigone and Devco, NextWave vs. Antigone and Devco, Petition to Deny License Proceedings, Federal Communications Commission (1997)

For Antigone and Devco.

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Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions (with Lawrence M. Ausubel, R. Preston McAfee, and John McMillan), Journal of Economics and Management Strategy (1997)

We examine bid data from the first two broadband PCS spectrum auctions for evidence of...

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The FCC Spectrum Auctions: An Early Assessment, Journal of Economics and Management Strategy (1997)

This paper analyzes six spectrum auctions conducted by the Federal Communications Commission (FCC) from July...

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Deficit Reduction Through Diversity: How Affirmative Action at the FCC Increased Auction Competition (with Ian Ayres), Stanford Law Review (1996)

In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by...

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The Case for Affirmative Auction: From Conscience to Coffers (with Ian Ayres), New York Times (1995)

The Federal Communications Commission’s auction of wireless communication licenses last fall has been criticized as...

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Money Out of Thin Air: The Nationwide Narrowband PCS Auction, Journal of Economics and Management Strategy (1995)

The Federal Communications Commission held its first auction of radio spectrum at the Nationwide Narrowband...

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Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

We summarize the results of a project that was motivated by the expiration of the...

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Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items....

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Comments on Alternative Policy Options for Managing Capacity and Mitigating Congestion and Delay at LaGuardia Airport, U.S. Department of Transportation, Docket Nos. FAA–2001–9852, FAA–2001–9854 (2002)

Recommending auctions to manage congestion at LaGuardia.

Selected Works of Peter Cramton

Peter Cramton

University of Maryland at College Park

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Auctions

Pricing Rule in a Clock Auction (with Pacharasut Sujarittanonta), Working Paper, University of Maryland (2009)

Spectrum Auction Design, Working Paper, University of Maryland (2009)

A Two-Sided Auction for Legacy Loans (2009)

Making Sense of the Aggregator Bank (with Lawrence M. Ausubel), The Economists' Voice (2009)

No Substitute for the "P" Word in Financial Rescue (with Lawrence M. Ausubel), The Economists' Voice (2009)

Foreword to Ross Baldick's 'Single Clearing Price in Electricity Markets', Compete Coalition, www.competecoalition.com (2009)

Auctioning the Digital Dividend, Communications Regulation in the Age of Digital Convergence: Legal and Economic Perspectives (2009)

How Best to Auction Natural Resources, Handbook of Oil, Gas And Mineral Taxation (2009)

Common-Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction (with Lawrence M. Ausubel, Emel Feliz-Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking), Working Paper, University of Maryland (2008)

Auctions for Injecting Bank Capital (Addendum to 'A Troubled Asset Reverse Auction') (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

Report on Key Design Elements of Auctions Under Australia's Carbon Pollution Reduction Scheme, Tradeslot Report to Australian Department of Climate Change, [Ch. 9 Auction Design, Australian White Paper] (2008)

A Review of the 10-40 GHz Auction, Report for UK Office of Communications (2008)

A Review of the L-Band Auction, Report for UK Office of Communications (2008)

A Troubled Asset Reverse Auction (with Lawrence M. Ausubel), Working Paper, University of Maryland. (2008)

Auction Design Critical for Rescue Plan (with Lawrence M. Ausubel), The Economists' Voice (2008)

Auctioning Long-term Gas Contracts in Colombia, Report for Colombia’s Comisión de Regulación de Energía y Gas (2008)

The Quadratic Core-Selecting Payment Rule for Combinatorial Auctions (with Robert Day), Working Paper, University of Maryland (2008)

Forward Reliability Markets: Less Risk, Less Market Power, More Efficiency (with Steven Stoft), Utilities Policy (2008)

Innovation and Market Design, Innovation Policy and the Economy (2008)

Market Design: Auctions and Matching, Better Living Through Economics (2008)

The Effect of Incumbent Bidding in Set-Aside Auctions: An Analysis of Prices in the Closed and Open Segments of FCC Auction 35 (with Allan T. Ingraham and Hal J. Singer), Telecommunications Policy (2008)

An Overview of Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), ACM SIGecom Exchanges (2007)

Comments on the RGGI Market Design, Report for ISO New England and NYISO (2007)

The 700 MHz Spectrum Auction: An Opportunity to Protect Competition In a Consolidating Industry (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

Comments on the FCC’s Proposed Competitive Bidding Procedures for Auction 73 (with Gregory Rosston, Andrzej Skrzypacz, and Robert Wilson), Report for Frontline Wireless (2007)

Affidavit of Peter Cramton, DC Energy, LLC v. HQ Energy Services (US) Inc., Docket No. EL07-67-000, before Federal Energy Regulatory Commission (2007)

Colombia’s Forward Energy Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

Possible Design for a Greenhouse Gas Emissions Trading System, Report for Australia National Emissions Trading Taskforce (2007)

Economist Letter to NTIA on 700 MHz Spectrum Auction (with Andrzej Skrzypacz, Simon Wilkie, and Robert Wilson), Report for Frontline Wireless (2007)

Essential Entry: Revenues in the 700 MHz Spectrum Auction, White Paper, University of Maryland (2007)

Revenues in the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), White Paper, University of Maryland (2007)

Economic Comments on the Design of the 700 MHz Spectrum Auction (with Andrzej Skrzypacz and Robert Wilson), Report for Frontline Wireless (2007)

Affidavit of Peter Cramton, The People of the State of Illinois, et al., Docket No. EL07-47-000, Federal Energy Regulatory Commission (2007)

Product Design for Colombia’s Regulated Market, Report for Colombia’s Comisión de Regulación de Energía y Gas (2007)

Why Large Licenses Are Best for the 700 MHz Spectrum Auction, Before the Federal Communications Commission, on behalf of Verizon Wireless (2007)

Market-Based Alternatives for Managing Congestion at New York’s LaGuardia Airport (with Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, and Karla Hoffman), Optimal Use of Scarce Airport Capacity, Proceedings of AirNeth Annual Conference (2007)

Affidavit of Peter Cramton, New York Independent System Operator, Docket No. ER07-360-000, Federal Energy Regulatory Commission (2007)

Colombia Firm Energy Market (with Steven Stoft), Proceedings of the Hawaii International Conference on System Sciences (2007)

How Best to Auction Oil Rights, Escaping the Resource Curse (2007)

Why We Need to Stick with Uniform-Price Auctions in Electricity Markets (with Steven Stoft), Electricity Journal (2007)

Simulation of the Colombian Firm Energy Market (with Steven Stoft), Report for Colombia’s Comisión de Regulación de Energía y Gas (2006)

New England’s Forward Capacity Auction, Report for ISO New England (2006)

The Convergence of Market Designs for Adequate Generating Capacity (with Steven Stoft), Report for California Electricity Oversight Board (2006)

Ex Parte of Peter Cramton, AWS Auction, Federal Communications Commission, on behalf of T-Mobile (2006)

Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Reply Declaration of Peter Cramton on the AWS Auction, Before the Federal Communications Commission, on behalf of T-Mobile (2006)

Combinatorial Auctions (with Yoav Shoham and Richard Steinberg) (2006)

Dynamic Auctions in Procurement (with Lawrence M. Ausubel), Handbook of Procurement (2006)

Introduction to Combinatorial Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

Simultaneous Ascending Auctions (with Yoav Shoham and Richard Steinberg), Combinatorial Auctions (2006)

The Clock-Proxy Auction: A Practical Combinatorial Auction Design (with Lawrence M. Ausubel), Combinatorial Auctions (2006)

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

A Capacity Market that Makes Sense (with Steven Stoft), Electricity Journal (2005)

Comments on DOC Notice of Preliminary Results of Countervailing Duty Review (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2005)

Review of the Proposed Reserve Markets in New England (with Hung-po Chao and Robert Wilson), MDI Report for ISO New England (2005)

Auctioning Many Divisible Goods (with Lawrence M. Ausubel), Journal of the European Economic Association (2004)

Vickrey Auctions with Reserve Pricing (with Lawrence M. Ausubel), Economic Theory (2004)

Competitive Auction Markets in British Columbia (with Susan Athey), MDI Report for British Columbia Ministry of Forests (2004)

Competitive Bidding Behavior in Uniform-Price Auction Markets, Proceedings of the Hawaii International Conference on System Sciences (2004)

Estimating Auction Revenues for the Proposed FCC Sale of 3G Spectrum for Broadband and Advanced Wireless Services, Criterion Auctions Report for U.S. Department of Defense (2003)

Expert Report of Peter Cramton, D. Lamar Deloach, et al. v. Philip Morris, Inc., et al., Civil Action No. 00-CV-1253, United States District Court, Middle District of North Carolina. (2003)

Competitive Bidding Behavior in Uniform-Price Auction Markets, Report before the Federal Energy Regulatory Commission, on behalf of Duke Energy (2003)

Competitive Bidding Behavior in Uniform-Price Auction Markets, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

Rebuttal Addendum: Assessment of Submissions of the California Parties, Supplier Behavior in California Energy Crisis, Federal Energy Regulatory Commission, Docket Nos. EL00-95-075 and EL00-98-063, on behalf of Duke Energy (2003)

Upset Pricing in Auction Markets: An Overview (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2003)

Electricity Market Design: The Good, the Bad, and the Ugly, Proceedings of the Hawaii International Conference on System Sciences (2003)

An Analysis of Auction Volume and Market Competition for the Coastal Forest Regions in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

Reserve Prices, Stumpage Fees, and Efficiency (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

Setting the Upset Price in British Columbia Timber Auctions (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)

Demand Reduction and Inefficiency in Multi-Unit Auctions (with Lawrence M. Ausubel), Working Paper, University of Maryland (2002)

Auctioning Timber to Maximize Revenues in British Columbia (with Susan Athey and Allan Ingraham), MDI Report for British Columbia Ministry of Forests (2002)