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Fishery Auctions in Chile

May 15, 2011

On May 9-10, Paul was in Santiago, Chile to advocate the creation of individual transferable fishing quotas (ITQs) and the use of auctions to assign at least half of them. (Chilean law authorizes auctions only for half of the fishing rights.) The use of auctions would not change the total allowable catch, but would open the door to new entry by more efficient firms. Currently, entry is blockaded by a handful of firms that control all the rights. Not only would auctions enhance efficiency, but they would also capture a portion of the value of fishing rights for the Chilean population, just as radio spectrum auctions have promoted efficiency and captured value in many countries.

El Mercurio newspaper published an interview with Paul on May 10, which can be found here.

Paul Speaks at the White House

April 7, 2011

On April 6, Paul Milgrom appeared at the White House on behalf of 112 economists to discuss the bipartisan “economists’ letter” to President Obama, which supports the use of “incentive auctions” to guide the voluntary redeployment of radio spectrum to higher value uses. The letter, signed by a distinguished group of economists including both Republicans and Democrats, explains the proper roles of users and regulators in assuring that spectrum is used efficiently, to promote jobs and growth and create a win-win solutions for existing users like TV broadcasters and possible new users like providers of wireless broadband services.

Paul speaking at White House, 6 April 2011

The panel discussion and the surrounding event were covered by various news outlets.


Paul’s Interview on CNBC-e

March 28, 2011

Paul was interviewed on Turkish television last week, discussing the economic challenges that Turkey faces, particularly in its telecom sector. Here is the original link to Turkish television and an archival link.

Paul Delivers Eitan Berglas Lecture

March 16, 2011

On March 15, 2011, I delivered the tenth Berglas Public Lecture at the School of Economics of Tel Aviv University. Eitan Berglas founded the Department of Economics in Tel Aviv in 1966. Professor Berglas served as economic adviser to the Israeli government and as chairman of Bank Hapoalim. His published research was in the field of public economics and club theory.

A video of my public lecture is available at the TAU website and on YouTube. The lecture demonstrated how an understanding of bidder budget constraints can be part of devising effective bidding strategy for radio spectrum auctions, showed how the strategic insights from that analysis can theoretically be incorporated to create more effective auction designs, and demonstrated a web-based auction that takes advantage of this lesson.