Property is Monopoly


Anthony Lee ZhangAnthony Lee Zhang is a PhD student at the Stanford Graduate School of Business Economics program. Along with Glen he is the co-creator of the Common Ownership Self-Assessed Tax in its modern form, though in their joint work Anthony and Glen refer to it as “Depreciating Licenses”.

Paul MilgromPaul Milgrom is the Shirley and Leonard Ely Professor of Humanities and Sciences in the Department of Economics at Stanford University. Beyond his stellar academic career, Paul has been the most influential practical auction designer in the world, pioneering multiple rounds of the Federal Communications Commission spectrum auctions. Together with Anthony and Glen, Paul has proposed using depreciating licenses to encourage more efficient and flexible spectrum reallocation while protecting investments.