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It has been widely recognized that the current under-utilization of spectrum across many bands could be alleviated through the application of spectrum markets. So far, discussions of market mechanisms for spectrum allocations have focused primarily on secondary markets, which are managed by licensees. Here the authors explore the consequences of lifting current restrictions on allocations and ownership, and allowing more extensive markets for allocating spectrum across locations, times, and diverse sets of applications (e.g., broadcast, cellular, broadband data, emergency, etc).
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