Why Social Science?
This week, we are sharing a recent opinion piece published in The Hill by Paul Milgrom, a Stanford economist whose groundbreaking research in auction design is used by the Federal Communications Commission (FCC) to auction electromagnetic spectrum to companies, generating billions in revenue for the federal government.
"When we drive to work, we often see the effects of congested roads. But when we use our mobile phones, we don’t think much about congestion on the highways that carry our voices and data. We just assume the capacity will be there to happily carry our wireless signals. Where does that capacity come from? Last week, the Federal Communications Commission (FCC) celebrated how seemingly obscure social science funded by the federal government helps us all stay connected.
Recently, the FCC closed its first ever “incentive auction” of spectrum – the electromagnetic radio frequencies used to transmit sound, data, and video..."