Administrative Creation of Property Rights to Radio Spectrum
Despite the 1934 Communication Act's ban on private ownership of radio spectrum, the law leaves open to the Federal Communications Commission a range of licensing regimes under which the Commission may, in its discretion, grant spectrum users relatively strong or weak property rights to allotted frequencies. This article examines numerous administrative decisions by the FCC to demonstrate how regulatory changes have affected the property interests conferred by spectrum licenses, focusing on licensees' rights to use, divide, and broker spectrum flexibly and to prevent unauthorized reception of their signals. The article discusses the economic and legal significance of those changes and identifies areas for further reform. The authors conclude that, although important changes remain to be made, the FCC has strengthened property interests on both the transmission and receiving ends of licensed frequencies and, through the administrative process, has eroded the importance of the statutory distinction between private ownership and public licensing. Copyright 1998 by the University of Chicago.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hazlett, Thomas W, 1998. "Assigning Property Rights to Radio Spectrum Users: Why Did FCC License Auctions Take 67 Years?," Journal of Law and Economics, University of Chicago Press, vol. 41(2), pages 529-75, October.
- Robert McDonald & Daniel Siegel, 1986. "The Value of Waiting to Invest," The Quarterly Journal of Economics, Oxford University Press, vol. 101(4), pages 707-727.
When requesting a correction, please mention this item's handle: RePEc:ucp:jlawec:v:41:y:1998:i:2:p:581-607. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division)
If references are entirely missing, you can add them using this form.