William W. Sharkey

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This paper considers the profit maximization problem of a firm that must make sunk investments in long-lived assets to produce output. It is shown that if per period accounting income is calculated by using a particular allocation rule for investment called the relative replacement cost (RRC) rule, that, in a broad range of plausible circumstances, the(More)
This paper is concerned with the merits of employing market forces to address the issues of wireless spectrum congestion and the allocation of spectrum between firms seeking licensed and unlicensed spectrum rights. We show that when unlicensed spectrum is assigned to all competing users during periods of excess demand an inefficient outcome related to the(More)
With competition in telecommunications markets a carrier relies on competing networks to complete inter-network calls originated by its customers. Regulators typically require the calling party's network to pay a termination fee to the called party's network equal to the terminating network's " incremental cost " of completing the call. The payments for(More)
This paper employs simulation methods to evaluate the ability of three different auction mechanisms to determine an efficient license regime for radio spectrum as well as the efficient ownership of the associated rights. The two regimes explored are “licensed” spectrum, in which a winning bidder maintains exclusive rights to use the spectrum,(More)
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