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DTSTART;TZID=Europe/Paris:20201118T140000
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SUMMARY:Katja SEIM (Yale University)  - "Ownership Concentration and Strategic Supply Reduction "
DESCRIPTION:CREST Microeconomics Seminar :  \n\nTime: 2:00 pm – 3:15pm\nDate:  18th November 2020\nVisio\n\n\nKatja SEIM (Yale University) – “Ownership Concentration and Strategic Supply Reduction ” \nAbstract: We explore the implications of ownership concentration for the recently-concluded incentive auction that re-purposed spectrum from broadcast TV to mobile broadband usage in the U.S. We document significant multi-license ownership of TV stations. We show that in the reverse auction\, in which TV stations bid to relinquish their licenses\, multi-license owners have an incentive to withhold some TV stations to drive up prices for their remaining TV stations. Using a large-scale valuation exercise\, we find that this strategic supply reduction conservatively increases payouts to TV stations by between 7.0% and 20.7%. With Ulrich Doraszelski\, Michael Sinkinson\, and Peichun Wang. \nOrganizers:\nRoxana Fernandez Machado (CREST)\, Julien Combe (CREST)\, and Matias Nunez (CREST)\n\n\nSponsors:\nCREST\n \n\n  \n
URL:https://econ.ip-paris.fr/event/katja-seim/
CATEGORIES:Microeconomics
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