Milgrom to Advise FCC on “Incentive Auctions”

March 27, 2012

An FCC Press Release today was headlined: “FCC ANNOUNCES PAUL MILGROM AND OTHER LEADING AUCTION EXPERTS TO ADVISE COMMISSION ON INCENTIVE AUCTION DESIGN AND IMPLEMENTATION.” In excerpt, it reports:

“FCC Chairman Julius Genachowski said, ‘I am delighted to have this world-class team of experts advising the Commission on this historic undertaking.’ …. The team of auction experts is led by Auctionomics Chairman Paul Milgrom, the Ely Professor of Humanities and Sciences in the Department Economics at Stanford University, and a member of the National Academy of Sciences and the American Academy of Arts and Sciences. Milgrom is the recipient of Nemmers Prize in Economics for contributions dramatically expanding the understanding of the role of information and incentives in a variety of settings, including auctions, the theory of the firm, and oligopolistic markets. He is widely regarded as one of the foremost thinkers in auction theory and design, and he helped create the first FCC spectrum auction design, which has served as a blueprint for similar auctions worldwide.”

Milgrom leads an Auctionomics team that also includes Stanford professors Jonathan Levin and Ilya Segal and University of Maryland professor Lawrence Ausubel.