Bidder Support Experience
A Sample of our Recent Bidder Support Work
Project Title: Australia ACMA 4G 700 MHz & 2.5GHz Mock Auctions
Description: Optimal Auctions created a mock auction environment for our client to practice their bidding strategies in this wireless spectrum auction. The auction was a combinatorial clock auction (CCA) with unique eligibility rules that were put in place by the Australian regulator (ACMA) to promote competition in the industry. Additionally, unique rules were put in place to encourage usage and deployment of the 700 MHz bands. At the conclusion of the clock bidding phase, additional phases were created to handle the supplement bidding phase and the assignment phase. ACMA tweaked the rules several times during the practice sessions, and Optimal Auctions was able to adapt our practice software within 24 hours, ensuring our client was always practicing on the most up-to-date version of the rules. The engagement lasted several months, with the client extremely pleased with the results of the auction.
Project Title: Finland FICORA 4G 800 MHz Mock Auctions
Description: Optimal Auctions created a mock auction environment for our client to practice their bidding strategies in the spectrum auction conducted by Finland's regulator, FICORA. The auction was an SMRA auction, with the same exact rules in place that were part of the FICORA spectrum auction in 2010. Optimal Auctions ran the auction for FICORA in 2010, so we were able to re-use our software from 2010, and implement the same rules again for our clients to practice on in during their training sessions. The software rules in place for this auction are very unique for an SMR auction - high bidder switching, reactivated bids, and product price resets. All of these rules together resulted in a complex set of rules for the auction. Optimal Auctions was able to meet these complex rules for our client, who practiced on the software for 4 months, and continued to use the software to practice on during the actual auction itself, to prepare for anticipated scenarios they woudld encounter during the auction.
Project Title: UK Ofcom 4G 800 MHz & 2.6 GHz Mock Auctions
Description: Optimal Auctions prepared our software for our client to practice their strategy for UK's Ofcom's spectrum auction. Ofcom's spectrum auctions are well-respected world-wide, because they choose to introduce new techniques and new rules that push the envelope of spectrum auctions. Ofcom's auctions tend to give a hint as to where spectrum auctions are headed in the future for the rest of the world. This particular auction was no different. The Ofcom auction introduced concepts such as relaxed bids, and preferred bids, in addition to the usual complexities involved with a combinatorial clock auction (CCA). Optimal Auction was able to correctly implement all these new rules quickly and easily for our client, who used our software to practice for 2 months prior to their auction starting.
Project Title: Ireland ComReg 4G 800 MHz, 900 MHz & 1800 MHz Mock Auctions
Description: Optimal Auctions created a practice auction environment for our client to practice bidding strategies. This auction was a combinatorial clock auction with incredibly complex eligibility and pricing rules that required computationally expensive bid evaluation algorithms for each bid made each round. Certain bidders had specific restricted bidding as well, resulting in customized bidding pages and eligibility and waiver rules for each bidder. At the conclusion of the clock auction stage, a combinatorial stage was performed to assign the lots to bidders, requiring the use of a combinatorial solving algorithm to determine the optimal prices and allocations of each lot. During the course of the practice sessions with the client, the Irish regulator changed the rules of the auction, and Optimal Auctions was able to adjust our software to meet the new rules and get the updated version to our client in less than 24 hours.
Project Title: Spain 4G 800 MHz, 900 MHz & 2.6 GHz Mock Auctions
Description: Optimal Auctions created a practice auction environment for our client to practice bidding strategies. This auction was an SMR auction with 21 products, where each product had a different starting price and weight. The auction also allowed the current high bidders to not only switch off of the product they were currently winning, but to increase the price of their bid on the same product by choosing a predetermined price from a drop-down box. This was a very unique bidding setup for an SMR auction. Additionally, the auction had a unique activity rule formula, where there were predetermined phases in the auction – in the first phase, only 60% of the eligibility was required in order to maintain 100% eligibility in the next round. These rules continued until the last phase, which required 100% activity to maintain 100% eligibility. Finally, to further complicate the auction rules, certain bidders also had bidding restrictions and caps that restricted their bidding more so than other bidders, so unique bidding and eligibility rules were devised just for these bidders that did not apply to other bidders. Optimal Auctions successfully ran practice auctions with the clients for months and they were quite pleased with the results and their resulting strategies gleaned from the work.