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Laboratory Experimental Testbeds: Application to the PCS Auction

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  • Charles R. Plott

Abstract

The paper reviews the uses of laboratory experimental economics methods in the background research and implementation of the Personal Communication Systems auctions held by the Federal Communications Commission. The applications began during the rule making process with the testing of broad rules that might be implemented. Data from experiments were systematically used. The methods were used again in the software development process where several important contributions were made. Finally, experiences gained from the study of experimental auction processes were used in the actual management of the first auctions and in interpreting auction performance.

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  • Charles R. Plott, 1997. "Laboratory Experimental Testbeds: Application to the PCS Auction," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 6(3), pages 605-638, September.
  • Handle: RePEc:bla:jemstr:v:6:y:1997:i:3:p:605-638
    DOI: 10.1111/j.1430-9134.1997.00605.x
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    1. Rassenti, Stephen J & Reynolds, Stanley S & Smith, Vernon L, 1994. "Cotenancy and Competition in an Experimental Auction Market for Natural Gas Pipeline Networks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(1), pages 41-65, January.
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    3. Plott, Charles R. & Porter, David P., 1996. "Market architectures and institutional testbedding: An experiment with space station pricing policies," Journal of Economic Behavior & Organization, Elsevier, vol. 31(2), pages 237-272, November.
    4. Brewer, Paul J. & Plott, Charles R., 1996. "A binary conflict ascending price (BICAP) mechanism for the decentralized allocation of the right to use railroad tracks," International Journal of Industrial Organization, Elsevier, vol. 14(6), pages 857-886, October.
    5. Jeffrey S. Banks & John O. Ledyard & David P. Porter, 1989. "Allocating Uncertain and Unresponsive Resources: An Experimental Approach," RAND Journal of Economics, The RAND Corporation, vol. 20(1), pages 1-25, Spring.
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