Radio spectrum trading involves determining available radio spectrum and requestors desiring to lease portions of the available radio spectrum, and for allocating the available spectrum to the requestors. A pricing curve may be set based on historical information and/or requests to lease spectrum. A determination may then be made as to whether an amount of available spectrum is less than or greater than an amount spectrum being requested. If it is determined that the amount of available spectrum is less than the amount of spectrum being requested, then an auction may be conducted for the available spectrum with the initial bid being set based on the pricing curve. If the amount of available spectrum is greater than the amount of spectrum being requested, then the requests may be sorted based on predicted revenue generation and the available spectrum may be allocated in order from highest to lowest revenue generated.