intrinsic spectrum values from winning auction bids. Our analysis includes 15 auctions and close to 7,200 observations. We add … two components to previous literature on this topic. First, we control for license and block specific auction rules … winning bids. Additionally, auction results confirm that the relative value of higher frequency spectrum is increasing over …

efficiently, the Federal Communications Commission allowed bidders to bid for (predefined) packages of licenses in Auction 73. We … ($19 billion) in Auction 73. Complementarity in a 1 MHz nationwide license is worth $918 million to an average large bidder …