TY - JOUR
AU - Hazlett, Thomas
AB - The Federal Radio Commission regulated radio broadcasting, 1927–1934. With the passage of the Communications Act of 1934, the 1927 Radio Act (enabling the Commission) was re-enacted in whole. This congressional endorsement yields key evidence as to what policy outcomes were intended, differentiating competing theories for the origins of spectrum allocation law: Coase (J Law Econ 2(1):1–40, 1959), emphasizing policy error; Hazlett (J Law Econ 33:133–175, 1990), focusing on “franchise rents” in a public choice framework; and the “public interest” hypothesis, reconstructed by Moss and Fein (J Policy Hist 15(4):389–416, 2003). Congress’ revealed preferences prove consistent with the franchise rents theory, while contradicting the other two.
TI - The Rationality of U.S. Regulation of the Broadcast Spectrum in the 1934 Communications Act
JF - Review of Industrial Organization
DO - 10.1007/s11151-014-9429-9
DA - 2014-08-27
UR - https://www.deepdyve.com/lp/springer-journals/the-rationality-of-u-s-regulation-of-the-broadcast-spectrum-in-the-CguA1FsXrN
SP - 203
EP - 220
VL - 45
IS - 3
DP - DeepDyve
ER -