Why Government Auctions Leave Money on the Table

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Why Government Auctions Leave Money on the Table

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Every year, governments sell everything from broadcast spectrum to drilling rights at auction — and systematically leave billions of dollars on the table. In this episode, Lucas and Luna examine why public auction design so often misfires, drawing on the disastrous 2021 UK 5G spectrum auction, where a poorly chosen format cost the Treasury an estimated £1 billion. They break down the mechanics of common auction types (English, Dutch, sealed-bid, Vickrey), explain how incumbents collude or bluff in spectrum auctions, and walk through the infamous 1990s FCC auction experiments that finally got design right. Along the way, they ask a pointed question: why do governments keep repeating the same mistakes, and what would it take to fix the process? Specific, grounded, and surprisingly dramatic. #AuctionTheory #SpectrumAuctions #GovernmentRevenue #FCC #UK5G #PublicFinance #Economics #AuctionDesign #SpectrumLicensing #Treasury #CompetitionPolicy #Regulation #Spending #FexingoBusiness #BusinessPodcast #BudgetDeficits #PublicProcurement #Efficiency Keep every episode free: buymeacoffee.com/fexingo

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