Auctions are finding many new applications. Governments now use them routinely to allocate resources as diverse as radio spectrum, oil fields, government bonds and carbon emission rights. Both governments and B2B buyers are streamlining supply chains and saving money with procurement auctions. Regulators now use auctions for enforced divestments following mergers to prevent sweetheart deals. New ideas about bidding processes are influencing competition enforcement and merger control.
DotEcon provides a one-stop shop for all aspects of designing and running auctions. Implementing an auction requires a wide range of skills: game theory to understand how the auction design affects incentives; experimental techniques for robust dry-run testing and flexible auction software so that the auction design meets the client’s objectives.
DotEcon is the leading global supplier of design and build services for complex, high-value auctions. We have designed and implemented many auctions for radio spectrum around the world, including Hong Kong, India, the Netherlands, Norway, Sweden and the UK. DotEcon designed and implemented the novel clock auction that has been used by Ofcom for all recent UK spectrum auctions.
DotEcon assists public bodies in understanding how auctions and bidding processes can be used in many different sectors. We advised the UK government on the design of airport slot auctions. Our research paper for the UK OFT considers how competition law should deal with auctions and bidding processes.
We advise bidders in major auction transactions around the world. We have supported auction bidders in radio spectrum auctions in more than a dozen countries across Europe, the Americas and Asia Pacific. We helped an oil major optimise a complex bidding strategy for petrol station sites and an energy company bid for nuclear power station sites.
DotEcon has also developed a suite of auction software tools to implement auctions, test bid strategies and visualise dynamic auctions. Our WebBidder auction software provides best-in-class secure deployment of complex auctions for high-value transactions. It allows rapid prototyping and experimental testing of new and novel auction formats. It has also been used extensively by governments around the world for radio spectrum auction sales running into many billions of pounds.
Our BidTracker software tracks and predicts developments in multiple-round auctions, and is an essential aid to bid strategy implementation.
Contact us for further information.