Key variables group

Variable

Description

Economic condition and mobile market characteristics

Income

Real income per capita (US Dollar in PPP)

Market

Population in coverage area of spectrum license (million)

Mcomp

Reciprocal of one plus the number of operators

Shift (dummy)

Equal to one if auction took place during 2001 to 2007, zero otherwise

License characteristics

Duration

License period (year)

Entrant (dummy)

Equal to one if auctions rule stipulates that at least one license is set-aside for operator who has never received spectrum license, zero otherwise

Reserve

Reserve price (US dollar)

Financial commitment after winning the auction

Percent

Means of annual fee (percent of income from using 3G spectrum)

Service obligation after winning the auction

Deploy

Percent of population in accordance with coverage obligation

Share (dummy)

Equal to one if infrastructure sharing is mandated

Auction procedure

Accomp

Ratio of the number of bidders to the number of license

Activity (dummy)

Equal to one if auction has activity rule, zero otherwise

Info (dummy)

Equal to one if auction information are disclosed to the public, 0 otherwise

Number (dummy)

Equal to one if the number of license is predetermined, zero otherwise

Package (dummy)

Equal to one if package bidding is permitted, zero otherwise

Sealed (dummy)

Equal to one if auction is a sealed-bid format, zero otherwise