This week's US Economic Experts Panel statement:
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.
Keyword: auctions
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This week's European Economic Experts Panel statement:
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.
This week’s IGM Economic Experts Panel statements:
A) When local governments compete by offering subsidies to a firm that is willing to relocate, and shopping across multiple alternative areas, the firm typically captures most of value that is created via the relocation.
B) A federal prohibition against states and municipalities offering tax subsidies to attract specific businesses that are shopping across multiple areas to relocate would be welfare improving for the average taxpayer.
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