Money Out of Thin Air¶
Cramton, P. C. (1995). Money Out of Thin Air: The Nationwide Narrowband PCS Auction. Journal of Economics & Management Strategy, 267-343.
Cited by¶
1 citation across 1 artifact.
Primes¶
- Auction Theory
- Auction theory has been validated and refined through decades of laboratory experimentation (Smith 1962 onward) and high-stakes real-world deployments (FCC spectrum auctions since 1994, Google AdWords, Treasury debt auctions), as Cramton (1995) documents in his early FCC retrospective.
Supported in partVerified against the publisher's abstract
Cramton's abstract documents the July 1994 inaugural FCC narrowband PCS auction ($617M, ten licenses, judged a success and an application of economic theory), but says nothing of lab experiments, AdWords, or Treasury auctions.
“The auction was viewed by all as a huge success an excellent example of bringing economic theory to bear on practical problems of allocating scarce resources.”
- Auction theory has been validated and refined through decades of laboratory experimentation (Smith 1962 onward) and high-stakes real-world deployments (FCC spectrum auctions since 1994, Google AdWords, Treasury debt auctions), as Cramton (1995) documents in his early FCC retrospective.
Verification¶
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Registry ID ref:8795aca63ed8 · see in the full table