Measuring the Efficiency of an FCC Spectrum Auction
提出一种结构估计方法，利用配对稳定性条件估算竞拍者估值，并应用于1995-1996年C频段拍卖，发现将四个大区域牌照打包可提升分配效率48%。
We propose a method to structurally estimate the deterministic component of bidder valuations in FCC spectrum auctions, and apply it to the 1995–1996 C block auction. We base estimation on a pairwise stability condition: two bidders cannot exchange two licenses in a way that increases the sum of their valuations. Pairwise stability holds in some theoretical models of simultaneous ascending auctions under intimidatory collusion and demand reduction. Pairwise stability results in a matching game approach to estimation. We find that a system of four large regional licenses would raise the allocative efficiency of the C block outcome by 48 percent.