Presentation on theme: "Supply and Demand in Search of a Market: The Case of Secondary Spectrum Markets Scott Wallsten June 2, 2011 Spectrum Markets: Challenges."— Presentation transcript:
Supply and Demand in Search of a Market: The Case of Secondary Spectrum Markets Scott Wallsten firstname.lastname@example.org June 2, 2011 Spectrum Markets: Challenges Ahead What are ? And Whats Their Role in Promoting Efficiency?
Federal Radio Act: Declared spectrum a public resource 19271934 comparative hearings 1982 Lotteries FCC created, given right to assign spectrum 1994 auctions 1959 Ronald Coase suggests using property rights to assign spectrum 2000 FCC begins laying the groundwork for secondary markets. Spectrum Allocation Methods in the U.S.
Spectrum license trades and leases FCC first attempted to promote secondary market with a policy statement in 2000 defining necessary framework: 1.Clearly defined economic rights 2.Easy entry and exit 3.Full information on prices and products 4.Mechanisms for bringing buyers and sellers together 5.Many buyers and sellers How are we doing?
Secondary trades come in many forms. License sales and leases are common. We dont know what a working market should look like. Importance of secondary markets grows with each auction. Minimize costs associated with all types of transactions, not just license transfers.