Business Commons^™

Using Auctions To Divest Generation Assets, Peter Cramton, Lisa J. Cameron, Robert Wilson

Peter Cramton

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these costs must be measured as accurately as possible, in a manner that is easily understood by all concerned parties. We describe the options for measuring stranded costs and argue that a simultaneous ascending auction is the best approach.

Package Bidding For Spectrum Licenses, Peter Cramton, John Mcmillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, Robert Wilson

Peter Cramton

The FCC was an innovator in adopting the rules of the simultaneous ascending-price auction for its sales of spectrum licenses. While these rules have performed well in the auctions conducted so far (and would perform even better with the design improvements suggested in our first report), there are two inherent limitations in any design that seeks to assign and price the licenses individually. First, such designs create strategic incentives for bidders interested in multiple licenses that are substitutes to reduce their demands for some of the licenses in order to reduce the final prices of the others; this is the …

Research Report: Diffusion Of Information Systems Outsourcing: A Reevaluation Of Influence Sources, Qing Hu, Carol Saunders, Mary Gebelt

Qing Hu

Information systems outsourcing is an increasingly popular IS management practice in companies of all sizes. Examining the adoption of IS outsourcing from the well-developed theoretical foundation of innovation diffusion may shed some light on significant factors that affect the adoption decision, and clarify some misperceptions. This study explores the sources of influence in the adoption of IS outsourcing. Using a sample of 175 firms that outsourced their IS functions during the period from January 1985 to January 1995, we tested three hypotheses of sources of influences using four diffusion models: internal influence, external influence, and two mixed influence models. Our …

Auction Design Enhancements For Non-Combinatorial Auctions, Peter Cramton, John Mcmillan, Paul Milgrom, Bradley Miller, Bridger Mitchell, Daniel Vincent, Robert Wilson

Peter Cramton

We evaluate a number of possible enhancements to the FCC auctions. We consider only changes to the current auction rules that stay within the basic format of the simultaneous multiple round auction for individual licenses. This report summarizes and extends our e-mail exchanges with FCC staff on this topic. A subsequent report will cover auctions with combination bids. Overall, the FCC spectrum auctions have been an enormous success. However, there are two design goals in the auction where important improvement can be achieved within the basic rules structure. These are restricting collusion among bidders and reducing the time taken to …

Professional Development Seminars: Scouting Out Your Best Opportunities, Douglas J. Swanson Ed.D Apr

Douglas J. Swanson, Ed.D APR

No abstract provided.

Reply Statement On The Effect Of Nextwave’S Participation In The C-Block Auction On Antigone And Devco, Peter Cramton

Peter Cramton

For Antigone and Devco.

Hacks, Flacks And Counter-Attacks: Cigarette Advertising, Sponsored Research And Controversies, Richard W. Pollay

Richard W. Pollay

No abstract provided.

Statement On The Effect Of Nextwave’S Participation In The C-Block Auction On Antigone And Devco, Peter Cramton

Peter Cramton

For Antigone and Devco.

Planning + Execution + Follow-Up = Great Trade Show Performance, Douglas J. Swanson Ed.D Apr

Douglas J. Swanson, Ed.D APR

No abstract provided.

Achieving Success In Information Systems Outsourcing, Carol Saunders, Mary Gebelt, Qing Hu

Qing Hu

A study of 34 large companies, which outsourced for at least 2 years, demonstrates that outsourcing can be successful even when information systems are viewed as core functions. However, outsourcing negotiations must reflect the role of the company performing the outsourced functions and the nature of the outsourced work. A critical key to success in outsourcing arrangements lies in having tight contracts, even when the outsourcing vendor is viewed as a strategic partner or the IS function is considered to be core.

Relativism, Reflective Equilibrium, And Justice, Justin Schwartz

Justin Schwartz

THIS PAPER IS THE CO-WINNER OF THE FRED BERGER PRIZE IN PHILOSOPHY OF LAW FOR THE 1999 AMERICAN PHILOSOPHICAL ASSOCIATION FOR THE BEST PUBLISHED PAPER IN THE PREVIOUS TWO YEARS.

The conflict between liberal legal theory and critical legal studies (CLS) is often framed as a matter of whether there is a theory of justice that the law should embody which all rational people could or must accept. In a divided society, the CLS critique of this view is overwhelming: there is no such justice that can command universal assent. But the liberal critique of CLS, that it degenerates into …

Reinventing Government: The Promise Of Comparative Institutional Choice And Government Created Corporations, Nancy J. Knauer

Nancy J. Knauer

This Article focuses on a subset of private/public partnerships - those that involve relationships between the public sector and charitable organizations, specifically "government created charitable organizations" (GCCOs). For example, the first President Bush, known as the "Education President," championed the creation of the New American Schools Development Corporation (NASDC) as the cornerstone of his education policy. Designed as an independent charitable organization, the NASDC's proposed budget relied on private corporate contributions. In this way, the federal government could assert that it would fund its new educational program without increasing the federal bureaucracy, raising taxes, or cutting other budget items. To …

Risk-Based Capital, Portfolio Risk, And Bank Capital: A Simultaneous Equations Approach, Kevin T. Jacques, Peter Nigro

Kevin T Jacques

This paper examines the impact the risk-based capital standards had on bank capital and portfolio risk during the first year the risk-based standards were in effect.

The Fcc Spectrum Auctions: An Early Assessment, Peter Cramton

Peter Cramton

This paper analyzes six spectrum auctions conducted by the Federal Communications Commission (FCC) from July 1994 to May 1996. These auctions were simultaneous multiple-round auctions in which collections of licenses were auctioned simultaneously. This auction form proved remarkably successful. Similar items sold for similar prices and bidders successfully formed efficient aggregations of licenses. Bidding behavior differed substantially in the auctions. The extent of bidder competition and price uncertainty played an important role in determining behavior. Bidding credits and installment payments also played a major role in several of the auctions.

Synergies In Wireless Telephony: Evidence From The Broadband Pcs Auctions, Peter Cramton, Lawrence M. Ausubel, R. Preston Mcafee, John Mcmillan

Peter Cramton

We examine bid data from the first two broadband PCS spectrum auctions for evidence of value synergies. First, we estimate a benchmark regression for the determinants of final auction prices. Then, we include variables reflecting the extent to which bidders ultimately won or already owned the adjacent wireless properties. Consistent with geographic synergies in an ascending-bid auction, prices were higher when the highest-losing bidder had adjacent licenses. The footprints of winning bidders suggest that they were often successful in realizing these synergies.