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Avoiding rent-seeking in secondary market spectrum transactions
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Journal Article
Avoiding rent-seeking in secondary market spectrum transactions
2013
Overview
Since at least the early 1990s, policymakers have recognized the benefits of using market-based mechanisms to allocate spectrum usage rights, including relying on auctions to award spectrum licenses and, more importantly, allowing secondary markets to reallocate licenses among existing uses and licensees. One of the benefits of market-based approaches is that they reduce incentives for parties to expend lobbying resources to secure self-serving outcomes, i.e., to engage in rent-seeking. This article assesses the role of rent-seeking in secondary market transactions over the past decade, and concludes that rent-seeking is commonplace in large transactions despite secondary market reforms implemented by the Federal Communications Commission (FCC) in 2003-2004. The FCC's unlimited discretion to intervene on behalf of rivals induces the rent-seeking behavior that the authors document. The article concludes that if this discretion is curbed competitors will reallocate their resources to more productive affairs.
Publisher
The George Washington University Law School,George Washington University, National Law Center
Subject
