US

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
Acemoglu
Daron Acemoglu
MIT
Agree
3
Bio/Vote History
One caveat to better allocative efficiency: more concentration and more monopoly power.
Altonji
Joseph Altonji
Yale
Strongly Agree
6
Bio/Vote History
Auerbach
Alan Auerbach
Berkeley
Agree
7
Bio/Vote History
Autor
David Autor
MIT
Agree
7
Bio/Vote History
Not my area of expertise; I am relying on the judgment of others. (So no information here.)
Baicker
Katherine Baicker
University of Chicago
Agree
3
Bio/Vote History
Banerjee
Abhijit Banerjee
MIT
Agree
1
Bio/Vote History
Bertrand
Marianne Bertrand
Chicago
Agree
6
Bio/Vote History
Brunnermeier
Markus Brunnermeier
Princeton
Strongly Agree
8
Bio/Vote History
Chetty
Raj Chetty
Harvard
Strongly Agree
5
Bio/Vote History
Chevalier
Judith Chevalier
Yale Did Not Answer Bio/Vote History
Cutler
David Cutler
Harvard
Strongly Agree
4
Bio/Vote History
Deaton
Angus Deaton
Princeton
Strongly Agree
7
Bio/Vote History
Duffie
Darrell Duffie
Stanford
Strongly Agree
4
Bio/Vote History
Edlin
Aaron Edlin
Berkeley
Agree
8
Bio/Vote History
Eichengreen
Barry Eichengreen
Berkeley
Agree
5
Bio/Vote History
Einav
Liran Einav
Stanford
Strongly Agree
5
Bio/Vote History
Fair
Ray Fair
Yale
Agree
2
Bio/Vote History
Finkelstein
Amy Finkelstein
MIT
Agree
3
Bio/Vote History
Goldberg
Pinelopi Goldberg
Yale
Agree
5
Bio/Vote History
Goolsbee
Austan Goolsbee
Chicago
Strongly Agree
8
Bio/Vote History
But the spammers are annoying
Greenstone
Michael Greenstone
University of Chicago
Strongly Agree
8
Bio/Vote History
Hall
Robert Hall
Stanford
Agree
7
Bio/Vote History
The auctions were neat but most of the social benefits come from moving spectrum out of low-value uses into the open market.
Hart
Oliver Hart
Harvard
Agree
8
Bio/Vote History
Holmström
Bengt Holmström
MIT
Strongly Agree
9
Bio/Vote History
Hoxby
Caroline Hoxby
Stanford Did Not Answer Bio/Vote History
Hoynes
Hilary Hoynes
Berkeley
Agree
6
Bio/Vote History
Judd
Kenneth Judd
Stanford
Agree
8
Bio/Vote History
Kaplan
Steven Kaplan
Chicago Booth
Agree
4
Bio/Vote History
Kashyap
Anil Kashyap
Chicago Booth
Strongly Agree
7
Bio/Vote History
Klenow
Pete Klenow
Stanford
Strongly Agree
4
Bio/Vote History
Levin
Jonathan Levin
Stanford
Strongly Agree
5
Bio/Vote History
Maskin
Eric Maskin
Harvard
Agree
8
Bio/Vote History
Nordhaus
William Nordhaus
Yale
Strongly Agree
7
Bio/Vote History
Obstfeld
Maurice Obstfeld
Berkeley
No Opinion
Bio/Vote History
Saez
Emmanuel Saez
Berkeley
Agree
2
Bio/Vote History
Samuelson
Larry Samuelson
Yale
Strongly Agree
10
Bio/Vote History
Auction theory is one of the great theoretical and, perhaps more importantly, practical success of economics.
Scheinkman
José Scheinkman
Columbia University
Agree
7
Bio/Vote History
Schmalensee
Richard Schmalensee
MIT
Strongly Agree
8
Bio/Vote History
Shapiro
Carl Shapiro
Berkeley
Strongly Agree
7
Bio/Vote History
Shimer
Robert Shimer
University of Chicago
Strongly Agree
8
Bio/Vote History
Stock
James Stock
Harvard
Uncertain
4
Bio/Vote History
Thaler
Richard Thaler
Chicago Booth
Strongly Agree
5
Bio/Vote History
True, especially because they used to give these rights away. Still much to be done.
Udry
Christopher Udry
Northwestern
Strongly Agree
10
Bio/Vote History