• Paul Milgrom, Shirley and Leonard Ely Professor of Humanities and Sciences, Department of Economics, Stanford University and Professor (by courtesy), Stanford Graduate School of Business
  • Deferred-acceptance auctions choose allocations by an iterative process of rejecting the least attractive bid. These auctions have distinctive computational and incentive properties that make them suitable for application in some challenging environments, such as the planned US auction to repurchase television broadcast rights. For any set of values, any deferred acceptance auction with ?“threshold pricing” ?is weakly group strategy-proof, can be implemented using a clock auction, and leads to the same outcome as the complete-information Nash equilibrium of the corresponding paid-as-bid auction. A paid-as-bid auction with a non-bossy bid-selection rule is dominance solvable if and only if it is a deferred acceptance auction.

    Joint work with Ilya Segal.

    • Speaker's bio:

    Paul Milgrom is the Shirley and Leonard Ely professor of Humanities and Sciences in the Department of Economics at Stanford University and professor, by courtesy, at the Stanford Graduate School of Business. He is a member of both the National Academy of Sciences and the American Academy of Arts and Sciences and a winner of the Nemmers Prize in Economics [See Nemmers Prize lecture here] and the 2012 BBVA Frontiers of Knowledge award.

    Milgrom is best known for his contributions to the microeconomic theory, his pioneering innovations in the practical design of multi-item auctions, and the extraordinary successes of his students and academic advisees (recorded in the News section on his site). According to his BBVA Award citation: “Paul Milgrom has made seminal contributions to an unusually wide range of fields of economics including auctions, market design, contracts and incentives, industrial economics, economics of organizations, finance, and game theory.” According to a count by Google Scholar, Milgrom’s books and articles have been cited in more than 50,000 works.

Invited speakers

  • Asu Ozdaglar, Professor, Steven and Renee Finn Innovation Fellow, Department of Electrical Engineering and Computer Science, MIT
  • Aaron Roth, Raj and Neera Singh Assistant Professor of Computer and Information Science, Computer Science department, University of Pennsylvania