I no longer remember the title of the paper but it was on the Gordon-Brown-era spectrum auctions. Basically if bidders can obtain information about each others

I no longer remember the title of the paper but it was on the Gordon-Brown-era spectrum auctions. Basically if bidders can obtain information about each others preferences other than via the auction - or in some cases even via the auction - the expected price is lower. I think it applies when a limited number of bidders are interested. If Elon is interested then all bets are off :-)