What is a simultaneous multi-round auction?
A simultaneous multi-round auction is an auction in which all bidders may bid simultaneously on any or all (subject to competition rules) of the lots (parcels of spectrum) on offer in each round of the auction. After each round the high bid for each lot is notified to all the bidders and each bidder then has an opportunity to bid again in the next round in an effort to become the high bidder for that round. The auction continues round after round until no more bids are received in any one round, and then the high bidders for each lot in the last round are declared the winners.
