May 20, 2021
One of the most valuable natural resources is invisible and all around you: The electromagnetic spectrum that carries radio, television, and the internet to users without wires.
How can governments allocate these airwaves for the maximum benefit to the public? Assigning spectrum to the wrong user could mean denying the public the benefits of these services. Underpricing access to spectrum is effectively a corporate giveaway, while overpricing it slows innovation and could lead to higher costs for consumers.
Economist Evan Kwerel spent his career at the Federal Communications Commission trying to solve the problem of spectrum allocation, thanks to some ground-breaking economic research and the debut of mobile phones. Since then, spectrum auctions have contributed more than $200 billion to the US Treasury, and now Kwerel is a finalist for the prestigious Paul A. Volcker public service award.