Common Tragedies

Thoughts on Environmental Economics

Auction design sentence of the day

Posted by Daniel Hall on November 29, 2007

The FCC hasn’t avoided testing their auction design ideas in experiments, it is just that they have chosen to experiment in high-stakes, hard-to-control, live action auctions with billions of dollars of resources at stake.

That’s Mike Giberson over at Knowledge Problem, in a superb overview of a paper from David Porter and Vernon Smith, “FCC Spectrum Auction Design: A 12-year Experiment.” The paper is forthcoming in the Journal of Law Economics and Policy; it is highly readable and strongly recommended.

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One Response to “Auction design sentence of the day”

  1. I have since discovered (Google is an amazing tool!) that my remark is somewhat out of date. Over the past few years the FCC has supported extensive lab testing of package bidding rules. I have added an update to the post you link to, and explain more and provide several links in a new post, Package bidding auction design for the FCC’s upcoming 700 MHz spectrum auction.

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