LECG Auction Practice HOME | CONTACT US

Contact Information

Darin Lee, Ph.D.
LECG-Cambridge
350 Massachusetts Ave, Suite 300
Cambridge, MA 02139
+1-617-761-0108
Darin_Lee@lecg.com

FCC Auctions 66 and 73

LECG's auction team, led by Dr. Darin Lee, advised bidders in the FCC's two most recent large-scale spectrum auctions, Auctions #66 and #73. In Auction #73 (700 MHz), LECG's auction team worked closely with Google for several months, developing their bidding strategy, training the internal Google team about the auction rules, specifying and setting up their war-room, developing their bid tracking and analysis software, and providing round-by-round analysis and on-site strategy support during the auction.

Read more about Google's experience in the auction at: http://googlepublicpolicy.blogspot.com/2008/04/cone-of-silence-finally-lifts-on.html



Nigeria and Egypt GSM Auctions

LECG's auction team, led by Dr. Darin Lee, advised one of Africa's largest wireless telecommunications firms in GSM auctions in both Nigeria and Egypt. LECG's experts analyzed the auction rules, developed the firm's bidding strategies, trained high level management on the risks and opportunities presented in the rules and oversaw the implementation of the bidding strategy during the auction.

Read more about why bidders and governments need to be especially prepared when conducting or participating in high-stakes auctions in emerging economies: Lessons from the Nigerian GSM Auction



Basic Generation Service (BGS) Auction

LECG's auction team, led by Michael Cadwalader and Dr. Darin Lee, advised one of the four electrical utilities serving New Jersey customers on the structure of the Basic Generation Service Auction, in which suppliers competed to provide full requirements service to meet the needs of New Jersey's consumers of electricity. LECG's experts analyzed the auction rules and developed modifications to those rules to ensure that the auction structure were sufficiently robust to accommodate differences between requirements for our client's customers' requirements and requirements for the other utilities' customers.




UK 3G and LMDS Auctions

LECG's auction team, led by Dr. Darin Lee and Stephen Foster, advised bidders in the UK 3G and LMDS spectrum auctions. LECG's auction team oversaw every aspect of the bidders' preparations, including legal and regulatory compliance, rules analysis, bid strategy formulation and bid tracking software. LECG's auction team was also responsible for specifying and overseeing the build out the bidders' IT systems, war-room and other facilities, as well as its security protocols leading up to and during the auctions.





U.S. Slot Auctions

LECG's auction and aviation experts have provided independent testimony on behalf of the U.S. Air Tranport Association in the U.S. Department of Transportation's Rulemaking regarding the potential introduction of slot auctions at New York City area airports.

Read the Comments of Daniel Kasper and Darin Lee: Supplemental Notice of Proposed Rulemaking Congestion Management Rule for LaGuardia Airport. Docket No. FAA-2006-25709. June 16, 2008, and Congestion Management Rule for John F. Kennedy International Airport and Newark Liberty International Airport. Docket No. FAA-2008-0517. July 21, 2008



New York Transmission Congestion Contracts Auction

LECG's market design team, including Michael Cadwalader, designed the innovative procedure that the New York Independent System Operator (NYISO) uses to auction transmission congestion contracts (TCCs), which are called financial transmission rights in other electricity markets. In those auctions, limited amounts of system transfer capability are made available in successive auction rounds, thereby permitting sales in later rounds to be based on information developed in earlier rounds. LECG developed the rules for the auction, including the methodology that is used to limit the amount of transfer capability made available in each round.




Auction Rate Securities Litigation

LECG's securities and auction teams, led by Dr. Mukesh Bajaj, was engaged by one of the largest broker dealers in the United States to study the auction rate securities ("ARS") market following unprecedented failures of auctions in this market starting in the Fall of 2007. This team provided an in-depth theoretical and empirical analysis of the market, the role of support bids on clearing prices, and the reasons for the recent failure of this market.






Ontario Transmission Rights Auction

LECG auction expert Michael Cadwalader served as the primary consultant to the Ontario Independent Electricity System Operator when it developed an auction for transmission rights (Ontario's version of FTRs). Ontario was the first North American electricity market to offer FTR options (which do not require their holders to make payments when the price of electricity at the FTR's withdrawal location exceeds the price at the FTR's injection location) available in addition to FTR obligations (which require their holders to make payments in such circumstances). Mr. Cadwalader developed the procedures the IESO uses to determine the number of FTRs it can award to ensure that it will collect sufficient revenues to fund payments to the holders of FTR options.



Employee Stock Options

Dr. Mukesh Bajaj and his team routinely advise several of the largest technology companies on pricing of their Employee Stock Options ("ESOs"). Dr. Bajaj and his team have also consulted with these firms on designing auctions for instruments that track the payoffs on ESOs to determine their market value.