We must all be surprised as to why the auction is going on even after the completion of a total of 37 rounds and has now spilled over to Day7. And that too when the reserve price is set reasonably high and plenty of spectrum available for all to take — a total of an astounding quantum of 72098 MHz! This quantum might look like a giant (31.2 x) compared to what was offered in the last auction of 2021 (only 2308 MHz). Given this fact, why the auction did not end on the 2nd day as the last auction did? This note is an attempt to answer this question.
Auction Design
In order to understand this enigma, we have to dive straight into the design of the auction. To a layman, this may appear quite complex, but I will try to simplify it as much as possible by referring to some simple examples.
