What type of auction did Milgrom design between 2016-2017?
Broadcast incentive auction
Art auction
Commodity auction
Real estate auction
Answer
Broadcast incentive auctions, designed by Milgrom between 2016-2017, were innovative auctions that reallocated broadcast spectrum from television broadcasters to wireless carriers. These auctions used a novel mechanism to incentivize broadcasters to voluntarily relinquish their spectrum, resulting in a more efficient allocation of spectrum resources and improved wireless services for consumers.
Mastering Milgrom: A Nobel Journey Through Economics
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