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A secondary market for the trading of spectrum: promoting market liquidity

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  • Bykowsky, Mark

Abstract

The development of a successful secondary market for the trading of spectrum is not a foregone conclusion. The multi-dimensional nature of radio spectrum, which requires that a bid to buy and an offer to sell conform across the multiple dimensions, suggests that the market may be very "thin." In addition, existing commercial users of spectrum have little incentive to sell excess spectrum if such spectrum will be employed by the buyer to provide a service that competes with the service provider by the seller. This paper discusses several steps to enhance market liquidity. One approach involves obtaining participation from federal spectrum users. Another step involves developing a market that both enhances market liquidity and provides participants the opportunity to incorporate a call option in the traded asset.

Suggested Citation

  • Bykowsky, Mark, 2003. "A secondary market for the trading of spectrum: promoting market liquidity," Telecommunications Policy, Elsevier, vol. 27(7), pages 533-541, August.
    • Handle: RePEc:eee:telpol:v:27:y:2003:i:7:p:533-541
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    Citations

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    Cited by:

    1. Grønnevet, Gorm A. & Hansen, Bjørn & Reme, Bjørn-Atle, 2016. "Spectrum policy and competition in mobile data," Information Economics and Policy, Elsevier, vol. 37(C), pages 34-41.
    2. Jain, Rekha, 2019. "Lessons from India on the Role of Institutions in Spectrum Trading," 2nd Europe – Middle East – North African Regional ITS Conference, Aswan 2019: Leveraging Technologies For Growth 201758, International Telecommunications Society (ITS).
    3. Teklemariam, Mekuria Haile & Kwon, Youngsun, 2020. "Differentiating mobile broadband policies across diffusion stages: A panel data analysis," Telecommunications Policy, Elsevier, vol. 44(8).
    4. Antonio NICITA & Maria Alessandra ROSSI, 2013. "Spectrum Crunch vs. Spectrum Sharing:Exploring the 'Authorised Shared Access' Model," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(90), pages 17-40, 2nd quart.
    5. Baldini, Gianmarco & Holland, Oliver & Stavroulaki, Vera & Tsagkaris, Kostas & Demestichas, Panagiotis & Polydoros, Andreas & Karanasios, Stan & Allen, David, 2013. "The evolution of cognitive radio technology in Europe: Regulatory and standardization aspects," Telecommunications Policy, Elsevier, vol. 37(2), pages 96-107.
    6. Jain, Rekha & Dara, Rishabh, 2017. "Framework for evolving spectrum management regimes: Lessons from India," Telecommunications Policy, Elsevier, vol. 41(5), pages 473-485.
    7. Mayo, John W. & Wallsten, Scott, 2010. "Enabling efficient wireless communications: The role of secondary spectrum markets," Information Economics and Policy, Elsevier, vol. 22(1), pages 61-72, March.
    8. Fulvio Minervini & Diego Piacentino, 2007. "Spectrum Management and Regulation: Towards a Full-Fledged Market for Spectrum Bands?," Working Papers 07-2007, Macerata University, Department of Studies on Economic Development (DiSSE), revised Nov 2008.

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