In this POLICY PAPER, we show how the Federal Communications Commission’s regulatory process may be used to impede the efficient functioning of a secondary market for commercial spectrum. In particular, we show that imposing (and threatening to impose) significant conditions when firms seek to...

Cars are expensive and most consumers know to shop dealers for the best prices. Yet, there is little to no empirical evidence on the price effects of intra-brand competition among different dealer franchises for the same automobile model. In this paper, using large samples of transactions for...