Since the first spectrum auction took place in 1989 in New Zealand, there have been many changes to the auction format. Yet one fundamental idea hasn’t changed: The bidder who offers up the most cash wins. In the latest episode of the PolicyTracker Spectrum podcast, we speak to Yasmine Frizlen an Economic Analyst at NERA in the Spectrum Department about a new auction format which challenges this key assumption. Called cashless auctions, these are awards where cash is not the primary focus, and instead, there is more emphasis on things like investment commitments and promises of coverage rollouts. NERA Book: Round-by-Round: Learnings from the First 35 Years of Spectrum Auctions PolicyTracker Research note (SRS subscribers): What are cashless spectrum auctions? PolicyTracker Spectrum 101 (free): Spectrum auctions