 | This article possibly contains original research. (April 2018) |
Paul Milgrom | |
|---|---|
 Milgrom in 2013 | |
| Born | April 20, 1948 |
| Education | University of Michigan (BA) Stanford University (MS, PhD) |
| Known for | Auction theory Incentive theory Market design |
| Spouse | Eva Meyersson |
| Awards | Erwin Plein Nemmers Prize in Economics (2008) BBVA Foundation Frontiers of Knowledge Award (2012) Golden Goose Award (2014) Nobel Memorial Prize in Economic Sciences (2020) Technology and Engineering Emmy Awards (2024) |
| Scientific career | |
| Fields | Economics |
| Institutions | Northwestern University (1979–1983) Yale University (1982–1987) Stanford University (1987–present) |
| Thesis | The structure of information in competitive bidding (1979) |
| Doctoral advisor | Robert B. Wilson |
| Doctoral students | Susan Athey Luís Cabral Joshua Gans Gillian Hadfield Li Shengwu |
| Academic career | |
| Information at IDEAS / RePEc | |
Paul Robert Milgrom (born April 20, 1948) is an American economist. He is the Shirley and Leonard Ely Professor of Humanities and Sciences at the Stanford University School of Humanities and Sciences, a position he has held since 1987. He is a professor in the Stanford School of Engineering as well and a Senior Fellow at the Stanford Institute for Economic Research.[1] Milgrom is an expert in game theory, specifically auction theory and pricing strategies. He is the winner of the 2020 Nobel Memorial Prize in Economic Sciences, together with Robert B. Wilson, "for improvements to auction theory and inventions of new auction formats".[2][3]
He is the co-creator of the no-trade theorem with Nancy Stokey. He is the co-founder of several companies, the most recent of which, Auctionomics,[4] provides software and services for commercial auctions and exchanges.
Milgrom and his thesis advisor Wilson designed the auction protocol the FCC uses to determine which phone company gets what cellular frequencies. Milgrom also led the team that designed the broadcast incentive auction between 2016 and 2017, which was a two-sided auction to reallocate radio frequencies from TV broadcast to wireless broadband uses.[5]
In 2024, Milgrom's firm, Auctionomics, won a technical Emmy Award for their contributions to spectrum auction design.[6]
- ^ "Paul R. Milgrom". Stanford Graduate School of Business. Retrieved November 12, 2021.
- ^ "The Prize in Economic Sciences 2020" (PDF) (Press release). Royal Swedish Academy of Sciences. October 12, 2020.
- ^ Riley, Charles (October 12, 2020). "Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson for auction theory". CNN. Retrieved October 12, 2020.
- ^ "Auctionomics".
- ^ Incentive Auction Rules Option and Discussion September 12, 2012.
- ^ "75th Award Recipients TechEmmys". February 22, 2024.