3G – Gargantuous, Grandiose, Gigabit speedsEven though India is decades behind the rest of the developed world, and a botched-up 2G auction, this one for the 3G is promising to be a real thrill, and fill our coffers to the brim.But why an auction? The beauty of an auction is theoretically its the best way to unlock value and ensure only the most competitive and the most serious player gets the cake. This is in part because its very difficult to find an unbiased expert to value of the spectrum, and even if they did, it would be very tough for them to do a correct valuation, being an outsider. Only the companies themselves can know how much the spectrum is worth to it, and through an auction, when the company finds out a competitor raises its bid, its scraps its valuation and bids higher, figuring it must be wrong somewhere and the spectrum is indeed worth much more!
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