Improving Liquidity in Secondary Spectrum Markets: Virtualizing Spectrum for Fungibility

Pricing mechanisms in the form of auctions have been the main method for spectrum assignment in the United States for over 20 years. The spectrum auctions carried out by the federal communications commission constitute a primary market for spectrum and have been affected by lack of flexibility which has resulted in inefficiencies in spectrum assignment, especially in environments where spectrum is considered scarce. In recent years, we have...