What did Milgrom's auction protocol help determine for the FCC?
Cellular frequencies
Internet speeds
Satellite positions
Broadcast rights
Answer
Cellular frequencies were determined by Milgrom's auction protocol for the FCC. This protocol is designed to allocate scarce resources efficiently and fairly. It involves multiple rounds of bidding, where bidders submit sealed bids for the desired frequencies. The winning bids are then selected based on a combination of price and other factors, such as coverage and quality of service.
Mastering Milgrom: A Nobel Journey Through Economics
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