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A well-designed auction can benefit everyone

Posted by Eliot Weinstein on January 23, 2008

A very important auction will be held tomorrow.

Unlike some who doubt the utility of highly mathematical theoretical microeconomics such as auction theory and mechanism design (for which the Alfred Nobel Memorial Prize in Economics was recently awarded to Hurwicz, Maskin, and Myerson), consider the case of the 700 MHz wireless spectrum auction, which begins tomorrow. Don Dodge, a Microsoft employee (formerly of AltaVista and the original Napster) and technoblogger, explains why competition for the spectrum between Google and the existing cellphone companies combined with the US government’s apparently clever policies will lead to higher quality wireless service, and possibly open access to cell phone networks.

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