Sunday, March 28, 2021

Discovering Auctions: Contributions of Paul Milgrom and Robert Wilson by Teytelboym, Li, Kominars, Akbarpour and Dworczak

 Here's a celebratory account of the Nobel winning work of Milgrom and Wilson. The authors have used the new AEA symbol for random ordering of authors, which I can't reproduce here (it's an r in a circle..)

Discovering Auctions: Contributions of Paul Milgrom and Robert Wilson

by (in random order) Alexander Teytelboym  Shengwu Li  Scott Duke Kominers Mohammad Akbarpour Piotr Dworczak,  March 13, 2021

Abstract: The 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Paul R. Milgrom and Robert B. Wilson for “improvements to auction theory and inventions of new auction formats.” In this survey article, we review the contributions of the laureates, emphasizing the subtle interplay between deep theoretical questions and practical design challenges that resulted in one of the most successful fields of economics.

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