Levy, Amnon; Caputo, Michael R.; Freyens, Benoît Pierre - School of Accounting, Economics, and Finance, … - 2013
Optimal control theory is employed to characterize the socially optimal trajectory of the royalty per channel and the number of royalty-paying users of state-owned spectrum for broadcasting. The spectrum royalty is set by an omniscient public planner to maximize the sum of the discounted...