Year: 1996
Type: article
Abstract: The design of the Federal Communications Commission spectrum license auction is a case study in the application of economic theory. Auction theory helped address policy questions such as whether an open auction or a sealed-bid auction should be used; whether the licenses should be auctioned sequentially or simultaneously; whether the government should allow bids for combinations of licenses or accept only single-license bids; how the auction should should be structured to promote the interests of minority-owned and other designated firms; whether the government should impose royalties or reserve prices; and how much the bidders should be informed about their competition.
DOI: 10.1257/jep.10.1.159
Authors: R. Preston McAfee, John McMillan
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2055943083