Market design at Stanford

 Two recent Stanford news stories focus on market design:

Symposium inaugurates Center for Computational Market Design. The new center will bring interdisciplinary expertise to bear on crafting rules and procedures for creating and improving markets.

"In an interview, Amin Saberi, a co-director of the center and professor of management science and engineering, said he hopes that research by the center’s members can inform market-related policy decisions in health care, education, transportation, electricity, and the environment.

“One of our goals is to collaborate with industry and the government to analyze existing markets and improve their performance,” Saberi said. “We also hope that the center becomes a launchpad for prototyping new marketplaces.”

Itai Ashlagi, the center’s other co-director and a professor of management science and engineering, said in an interview that the rise of artificial intelligence played a role in the decision to launch the center. “AI is going to be a big player in marketplaces,” he said.

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For the Colorado River and beyond, a new market could save the day. Stanford economist Paul Milgrom won a Nobel Prize in part for his role in enabling today’s mobile world. Now he’s tackling a different 21st century challenge: water scarcity.

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Earlier:

Sunday, January 7, 2024

Market Design for Surface Water , by Ferguson and Milgrom