The Evolution of U.S. Spectrum Values Over Time

Michelle Connolly (), Nelson Sa, Azeem Zaman, Chris Roark and Akshaya Trivedi
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Michelle Connolly: Duke University
Azeem Zaman: Harvard University
Chris Roark: University of Chicago
Akshaya Trivedi: Trinity College,Duke University

No 121, Working Papers from Brandeis University, Department of Economics and International Business School

Abstract: We consider 1997 to 2015 data from FCC spectrum auctions related to cellular services to attempt to identify intrinsic spectrum values. Relative to previous literature, we control for license specific auction rules, and introduce measures to separate out technological progress that effectively reduces spectrum scarcity from progress that increases demand. Results confirm that technological changes have led to increases in the relative value of higher frequencies. Surprisingly, 47 percent of these licenses have been won by “small” bidders, representing 27 percent of the real value of these licenses. The use of bidding credits further appears to consistently reduce auction competition.

Keywords: HSpectrum; spectrum Scarcity; Auctions; FCC; Auction Rules; Mobile Applications; Spectral Efficiency; Broadband Speeds; Closed Auctions; Small Bidders; "The Google Effect" (search for similar items in EconPapers)
JEL-codes: K2 L5 O3 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2018-02
New Economics Papers: this item is included in nep-law and nep-reg
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