Assessing Economic Outcomes in Simulated Reverse Clock Auctions for Radio Spectrum.

We investigate the economic outcomes that result under simulated bidder behavior in a model of the FCCu0027s reverse auction for radio spectrum. In our simulations, limiting our notion of efficiency to the reverse auction in isolation, the reverse clock auction achieves very efficient solutions, the FCCu0027s scoring rule greatly reduces the total payments to TV broadcasters at the cost of some efficiency, and using a poor feasibility checker can have grave consequences both in terms of the auctionu0027s cost and efficiency.