Radio Spectrum and the Disruptive Clarity OF Ronald Coase.

In the Federal Communications Commission, Ronald Coase (1959) exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the "price system." The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform the administrative allocation system. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took until July 25, 1994 for FCC license sales to commence. Today, some 73 U.S. auctions have been held, 27,484 licenses sold, and $52.6 billion paid. The reform is a textbook example of economic policy success. We examine Coase‘s seminal 1959 paper on two levels. First, we note the importance of its analytical symmetry, comparing administrative to market mechanisms under the assumption of positive transaction costs. This fundamental insight has had enormous influence within the economics profession, yet is often lost in current analyses. This analytical insight had its beginning in his acclaimed early article on the firm (Coase 1937), and continued into his subsequent treatment of social cost (Coase 1960). Second, we investigate why spectrum policies have stopped well short of the property rights regime that Coase advocated, considering rent-seeking dynamics and the emergence of new theories challenging Coase‘s property framework. One conclusion is easily rendered: competitive bidding is now the default tool in wireless license awards. By rule of thumb, about$17 billion in U.S. welfare losses have been averted. Not bad for the first 50 years of this, or any, Article appearing in Volume II of the Journal of Law & Economics.

Radio Spectrum and the Disruptive Clarity of Ronald Coase

In the Federal Communications Commission, Ronald Coase exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the “price system.” The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took until July 25, 1994 for FCC license sales to commence. Today, some 73 U.S. auctions have been held, 27,484 licenses sold, and $52.6 billion paid. The reform is a textbook example of economic policy success. Herein, we examine Coase’s seminal 1959 paper on two levels. First, we note its analytical symmetry, comparing administrative to market mechanisms under the assumption of positive transaction costs. This fundamental insight had its beginning in Coase’s acclaimed article on the firm, and continued with his subsequent treatment of social cost. Second, we investigate why spectrum policies have stopped well short of the property rights regime that Coase advocated, considering rent-seeking dynamics and the emergence of new theories challenging Coase’s property framework. One conclusion is easily rendered: competitive bidding is now the default tool in wireless license awards. By rule of thumb, about$17 billion in U.S. welfare losses have been averted. Not bad for the first 50 years of this, or any, Article appearing in Volume II of the Journal of Law & Economics

Radio Spectrum and the Disruptive Clarity of Ronald Coase

In the Federal Communications Commission, Ronald Coase exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the “price system.” The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took until July 25, 1994 for FCC license sales to commence. Today, some 73 U.S. auctions have been held, 27,484 licenses sold, and $52.6 billion paid. The reform is a textbook example of economic policy success. Herein, we examine Coase’s seminal 1959 paper on two levels. First, we note its analytical symmetry, comparing administrative to market mechanisms under the assumption of positive transaction costs. This fundamental insight had its beginning in Coase’s acclaimed article on the firm, and continued with his subsequent treatment of social cost. Second, we investigate why spectrum policies have stopped well short of the property rights regime that Coase advocated, considering rent-seeking dynamics and the emergence of new theories challenging Coase’s property framework. One conclusion is easily rendered: competitive bidding is now the default tool in wireless license awards. By rule of thumb, about$17 billion in U.S. welfare losses have been averted. Not bad for the first 50 years of this, or any, Article appearing in Volume II of the Journal of Law & Economics

Music 2025 : The Music Data Dilemma: issues facing the music industry in improving data management

© Crown Copyright 2019Music 2025ʼ investigates the infrastructure issues around the management of digital data in an increasingly stream driven industry. The findings are the culmination of over 50 interviews with high profile music industry representatives across the sector and reflects key issues as well as areas of consensus and contrasting views. The findings reveal whilst there are great examples of data initiatives across the value chain, there are opportunities to improve efficiency and interoperability

Finding and Exploiting Vulnerabilities in Embedded TCP/IP Stacks

In the context of the rapid development of IoT technology, cyber-attacks are becoming more frequent, and the damage caused by cyber-attacks is remaining obstinately high. How to take the initiative in the rivalry with attackers is a major problem in today's era of the Internet. Vulnerability research is of great importance in this contest, especially the study of vulnerability detection and exploitation methodologies. The objective of the thesis is to examine vulnerabilities in DNS client implementations of embedded TCP/IP stacks, specifically in terms of vulnerability detection and vulnerability exploitation research. In the thesis, a detection method is developed for some anti-patterns in DNS client implementations using a static analysis platform. We tested it against 10 embedded TCP/IP stacks, the result shows that the developed detection method has high precision for detecting the vulnerabilities found by the Forescout research labs with a total of 88% accuracy. For different anti-patterns, the method has different detection precision and it is closely related to the implementation of the detection queries. The thesis also conducted vulnerability exploitation research for a heap overflow vulnerability that exists in a DNS client implementation of a popular TCP/IP stack. A proof-of-concept of this exploitation is developed. Though there are many constraints for successful exploitations, the ability to conduct remote code execution attacks still makes exploitation of heap overflow vulnerability dangerous. In addition, attacks against TCP/IP stacks can take advantage of the stacks and make it possible for an attacker to exploit vulnerabilities in other devices. Often it takes a huge amount of time for researchers to have deep knowledge of a codebase and to find vulnerabilities in it. But with the developed detection method, we can automate the process of locating vulnerable code patterns to add support for detecting relevant vulnerabilities. Research on the exploitation of vulnerabilities can allow us to discover the potential impact of a vulnerability from the perspective of an attacker and implement targeted defences

Internet Protocol version 6 and the future of home networking

Home networking will be more of a necessity in the future than it is today. The homes of the future will make our lives easier in many ways. As microprocessors become less expensive and require less power they will be implanted into many of the common household items used everyday. Appliances and components will evolve into smart devices that communicate with each other. Connecting these devices will become more important as devices incorporate new technologies. It will be necessary to build a network that can handle the needs of this type of computing environment. The home networks of the future will require many of the same features that can be found in today\u27s corporate networks. However, there will be four issues that will determine the level of success of implementing home networks. The first issue is the increase in volume of the devices accessing and utilizing the Internet. Security will be a high priority for homeowners, since the data that accumulates and circulates in and out of the home is sensitive and personal. The third critical issue is ease of use, because the average homeowner does not have the skills necessary to configure and maintain networks. The last issue that will be important in the home is the increased need for bandwidth and the ability to accommodate all types of data traffic. There is no doubt that the Internet Protocol will be important in future home networks. Some proponents of IP say IP over everything The trend has been finding new ways of making IP the answer to all types of voice and data communications. Initially the Internet Protocol was designed for a specific application. Over time, IPv4 has been able to successfully adapt to the changing needs and demands of the Internet. At one point in the early 90\u27s, it was feared that IPv4 would not be able to meet the future needs. As a result, The Internet Engineering Task Force (IETF) developed a next generation Internet Protocol, referred to as Internet Protocol version 6. In the meantime, new fixes to old IPv4 problems have been temporarily halted. The implementation of IPv6 has been extremely slow since the imminent danger of declining address space has been temporarily addressed. IP version 6 has many new features built into the protocol that will streamline and enhance many aspects of the network, but these features alone may not be enough to cause the displacement of the massive infrastructure of IPv4. Will IPv6 be better at handling the demands of the home networks of the future, or will the additions and updates for IPv4 be sufficient? What are some of the resolutions that are being developed or are already implemented for the key issues in home networks- the increasing number of devices, security, ease of use and data flow

Survey on Security Issues and Protective Measures in Different Layers of Internet of Things (IoT)

In general perspective, Internet of things is defined as a network of physical objects by connecting” things to things” through the sensors, actuators and processors, to communicate and exchange data and information among each other along with other related devices and systems spread over different locations, without human-to-human or human-to-computer interactions. This survey summarises all the security threats along with privacy issues that may be confronted by the end users in Internet of Things (IoT). The majority of survey is to gather information about the current security requirements for IoT, the further scope and the challenges in IoT and the measures to prevent attacks upon the IoT systems

A Survey of Techniques for Improving Security of GPUs

Graphics processing unit (GPU), although a powerful performance-booster, also has many security vulnerabilities. Due to these, the GPU can act as a safe-haven for stealthy malware and the weakest `link' in the security `chain'. In this paper, we present a survey of techniques for analyzing and improving GPU security. We classify the works on key attributes to highlight their similarities and differences. More than informing users and researchers about GPU security techniques, this survey aims to increase their awareness about GPU security vulnerabilities and potential countermeasures