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Ownership Concentration and Strategic Supply Reduction / Ulrich Doraszelski, Katja Seim, Michael Sinkinson, Peichun Wang.
- Format:
- Book
- Author/Creator:
- Doraszelski, Ulrich.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w23034.
- NBER working paper series no. w23034
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- We explore the implications of ownership concentration for the recently-concluded incentive auction that re-purposed spectrum from broadcast TV to mobile broadband usage in the U.S. We document significant multi-license ownership of TV stations. We show that in the reverse auction, in which TV stations bid to relinquish their licenses, multi-license owners have an incentive to withhold some TV stations to drive up prices for their remaining TV stations. Using a large-scale valuation exercise, we find that this strategic supply reduction conservatively increases payouts to TV stations by between 7.0% and 20.7%.
- Notes:
- Print version record
- January 2017.
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