Thursday, April 28, 2016

Stanford celebrates Paul Milgrom and the Incentive Auction "Dream Team"

New on the SIEPR webpage, by Krysten Crawford: To secure a mobile future, Stanford expert creates an auction like no other (the url is more informative than the headline:

"More than two decades ago, Stanford economist Paul Milgrom played a key role in the design of the first wireless spectrum auction. Since then, the framework he helped create has been used in more than 80 auctions in the United States, generated billions of dollars in government licensing fees — and been replicated around the world.

"So it made sense for the Federal Communications Commission to tap Milgrom in 2011 when the agency needed a new way to free up more broadband for mobile devices. It took him and a small band of fellow economists and computer scientists 18 months to design the auction, which finally opened last month after years of regulatory procedures, software development and presentations to potential bidders.

"When the auction ends later this year, the country’s wireless landscape will never look the same.
"For help, Milgrom pulled together an interdisciplinary “dream team” of top experts in economics and computer science: Jonathan Levin, also a SIEPR senior fellow and faculty member in economics; Ilya Segal, a professor of economics at Stanford; and Kevin Leyton-Brown, a computer scientist at the University of British Columbia who earned his PhD from Stanford."

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