For clients with especially complex problems, we provide customized auction designs that ensure achieving optimal solutions. Complexity raises the stakes in auction design: poor designs leave money on the table or result in inefficient allocations.Jointly with our partners, we offer auction design and management for governments and fortune 500 companies, be it a procurement auction, a reverse auction or an exchange.  Thanks to our excellent team, we can offer you the best auction designs on the market.
 
Auctionomics designed and helped implement the FCC Incentive Auction, which raised over $19 billion in revenue and paid out $10 billion to TV broadcasters to relinquish spectrum rights. The auction respected 2.7 million radio interference constraints, and successfully overcame interacting economic and computational challenges. The Incentive Auction offers a possible template for future complex market designs.
 
Our founder Paul Milgrom has co-invented most of the most widely spread auction formats, such as the Simultaneous Multiple Round Auction (SMRA) and the Combinatorial Clock Auction (CCA) format.  He continues - together with our Auctionomics experts - to work on the most cutting-edge auction designs constantly pushing the boundaries of auction theory and implementation. Auctionomics is truly at the fore-front of the auctions of the future. Auctionomics has registered several patents on auction mechanisms, including Systems and Methods for Implementing Heuristic-Based Auctions, a System for configuration and implementation of an assignment auction or exchange, Systems and method for incorporating bidder budgets in multi-item auctions as well as Systems and Methods for Implementing Iterated Sealed-Bid Auctions.

Main Stages

The design we create for you is the best tailor-made solution for your needs. That is why it's so important, in a first step, it is crucial to fully understand our clients' needs. With our long-standing experience we can help you identify important trade-offs from an auction perspective.

We have found that is essential for our clients to grasp some basic concepts around auctions. This crucially informs decision-making when it comes to defining important levers during the auction design. We are experienced in training professionals of all backgrounds in auction seminars and can adapt our hands-on seminars.

On one hand, the auction rules have to ensure that the process is clear and unambiguous for all participants. On the other hand, they are the contractual or legal basis in case a conflict should arise post-auction. Therefore it is essential to have legally sound texts that do not imperil the auction outcome. Through our network of contacts to law firms we can ensure that they also meet highest standards of process reliability. We have experience in drafting documents that remain comprehensible, yet unambiguous.

This stage is mostly applicable in government-driven auctions where bidder consultation is often a mandatory step in the process. We can help you address concerns of bidders and help assess the impact of changes to one part of the auction to the process as a whole.

Auctionomics’ team of world recognized experts can build technology that results in the most efficient solution possible for both buyers and sellers. The research of our Auctionomics experts directly benefits software development.

Our deep understanding of auctions and tremendous experience have provided a fertile ground for developing innovative and adaptable software solutions for all types of client needs. Auctionomics delivers a full range of ready-to-use software solutions that is adapted to each client depending on the complexity of the underlying auction mechanism. This ensures that we can offer each of our clients the right software package to meet their needs and constraints.

The software solutions we provide through our partners can be used and adapted for multiple purposes, namely auctions to sell, auctions to buy or exchanges. Also, the software can either be used to run auctions live (online or offline) or for purposes of bidder training.

 

 

 

Especially when conducting complex auctions, it is important to train bidders well. This ensures they understand the key points of their decision and can prepare for the auction process. Also, an integral part, is familiarising bidders with the user interface of the software that will be used during the auction. We have extensive experience preparing bidders for auctions and are thus fully aware of their needs. We can also provide exhaustive, yet didactic bidder manuals.

For a successful auction process many processes need to be well thought through. Through our extensive network of experiences partners, we can recommend you highly qualified service providers from law firms, to auditors and technology partners.