Auction Theory

The practical application of auction theory to the licensing of rights to use public assets like radiospectrum and other natural resources has generated substantially higher government revenues and better allocative efficiency worldwide than would have happened under previous arrangements.

Responses weighted by each expert's confidence

Participant University Vote Confidence Bio/Vote History
Allen
Franklin Allen
Imperial College London
Agree
5
Bio/Vote History
Not sure exactly what "substantially higher" means here. In absolute terms yes, relative to GDP probably no.
Antras
Pol Antras
Harvard
Strongly Agree
9
Bio/Vote History
Bandiera
Oriana Bandiera
London School of Economics
Strongly Agree
9
Bio/Vote History
Blanchard
Olivier Blanchard
Peterson Institute
Agree
7
Bio/Vote History
Bloom
Nicholas Bloom
Stanford
Strongly Agree
10
Bio/Vote History
Blundell
Richard William Blundell
University College London
Strongly Agree
8
Bio/Vote History
Carletti
Elena Carletti
Bocconi Did Not Answer Bio/Vote History
Danthine
Jean-Pierre Danthine
Paris School of Economics
Agree
2
Bio/Vote History
De Grauwe
Paul De Grauwe
LSE
Agree
8
Bio/Vote History
Eeckhout
Jan Eeckhout
UPF Barcelona
Strongly Agree
8
Bio/Vote History
Fehr
Ernst Fehr
Universität Zurich
Agree
6
Bio/Vote History
Freixas
Xavier Freixas
Barcelona GSE Did Not Answer Bio/Vote History
Fuchs-Schündeln
Nicola Fuchs-Schündeln
Goethe-Universität Frankfurt
Strongly Agree
9
Bio/Vote History
Galí
Jordi Galí
Barcelona GSE
No Opinion
Bio/Vote History
Giavazzi
Francesco Giavazzi
Bocconi
Agree
5
Bio/Vote History
Griffith
Rachel Griffith
University of Manchester
Agree
7
Bio/Vote History
Guerrieri
Veronica Guerrieri
Chicago Booth
Agree
7
Bio/Vote History
Guiso
Luigi Guiso
Einaudi Institute for Economics and Finance
Agree
4
Bio/Vote History
Guriev
Sergei Guriev
Sciences Po
Strongly Agree
8
Bio/Vote History
Honohan
Patrick Honohan
Trinity College Dublin
Agree
1
Bio/Vote History
Though likely it was more the fact that the licenses were auctioned and not freely awarded that really counted.
Javorcik
Beata Javorcik
University of Oxford
Agree
8
Bio/Vote History
Krahnen
Jan Pieter Krahnen
Goethe University Frankfurt Did Not Answer Bio/Vote History
Kőszegi
Botond Kőszegi
Central European University
Strongly Agree
10
Bio/Vote History
La Ferrara
Eliana La Ferrara
Harvard Kennedy Did Not Answer Bio/Vote History
Leuz
Christian Leuz
Chicago Booth
Agree
5
Bio/Vote History
Mayer
Thierry Mayer
Sciences-Po Did Not Answer Bio/Vote History
Meghir
Costas Meghir
Yale
Agree
8
Bio/Vote History
Neary
Peter Neary
Oxford
Agree
8
Bio/Vote History
See the Nobel Prize citation!
-see background information here
Pagano
Marco Pagano
Università di Napoli Federico II
Strongly Agree
8
Bio/Vote History
Pastor
Lubos Pastor
Chicago Booth
Agree
2
Bio/Vote History
Persson
Torsten Persson
Stockholm University
Strongly Agree
8
Bio/Vote History
Pissarides
Christopher Pissarides
London School of Economics and Political Science Did Not Answer Bio/Vote History
Portes
Richard Portes
London Business School
Strongly Agree
5
Bio/Vote History
Prendergast
Canice Prendergast
Chicago Booth
Strongly Agree
9
Bio/Vote History
Rasul
Imran Rasul
University College London
Strongly Agree
9
Bio/Vote History
Among the best examples of how using tools of economics leads to can lead to the more efficient allocation of scarce resources.
Reichlin
Lucrezia Reichlin
London Business School
Uncertain
1
Bio/Vote History
Repullo
Rafael Repullo
CEMFI
Strongly Agree
4
Bio/Vote History
Rey
Hélène Rey
London Business School Did Not Answer Bio/Vote History
Schoar
Antoinette Schoar
MIT
Strongly Agree
8
Bio/Vote History
Sturm
Daniel Sturm
London School of Economics
Strongly Agree
9
Bio/Vote History
Van Reenen
John Van Reenen
LSE
Agree
6
Bio/Vote History
Vickers
John Vickers
Oxford
Strongly Agree
8
Bio/Vote History
Voth
Hans-Joachim Voth
University of Zurich
Strongly Agree
9
Bio/Vote History
Whelan
Karl Whelan
University College Dublin Did Not Answer Bio/Vote History
Wyplosz
Charles Wyplosz
The Graduate Institute Geneva
No Opinion
Bio/Vote History
Zilibotti
Fabrizio Zilibotti
Yale University
Agree
5
Bio/Vote History