Wednesday, March 17, 2021

Bob Wilson's Nobel lecture, in Econometrica

Here is Bob Wilson, in a very low key account of (what I would have described as) how he saw the future, changed economics, mobilized a generation of scholars, and won the Nobel.

Strategic Analysis of Auctions  by Robert B. Wilson, ECONOMETRICA: MAR 2021, VOLUME 89, ISSUE 2p. 555-561, https://doi.org/10.3982/ECTA19347

Abstract: The diploma for the Sveriges Riksbank Prize in Economics Sciences in Memory of Alfred Nobel that I shared in 2020 with Paul Milgrom cites “improvements in auction theory and inventions of new auction formats”.1 As requested by the Royal Swedish Academy of Sciences, this lecture describes the origin of my work on auctions. It complements the Nobel Lecture by Paul Milgrom (2021) that describes later developments in theory and practice.


Here's footnote 4:

"As an MBA student in 1959 I received a failing grade on a written analysis of a case involving competitive bidding because I invoked a mathematical analysis rather than the mandatory ‘administrative point of view’ "

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Earlier post:

Monday, October 12, 2020

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