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Asian Investment Conference 2021

Paul Milgrom

Co-winner of the 2020 Nobel Prize in Economic Sciences; Shirley and Leonard Ely Professor of Humanities and Sciences, Stanford University; Founder, Auctionomics

Luke Sedler

Paul Milgrom is the Shirley and Leonard Ely Professor of Humanities and Sciences at Stanford University, and is also Chairman and Co-Founder of Auctionomics.

Auctionomics designs and assists bidders in high-stakes auctions. Prof. Milgrom is best known for his contributions to the theory of auctions, much of which is summarized in his book, Putting Auction Theory to Work, published by Cambridge University Press, and for his contributions to the practice of auction design. He is the 2020 recipient of the Nobel Prize in Economic Sciences, along with Robert Wilson, "for improvements to auction theory and inventions of new auction formats."

In 2020, he was named Distinguished Fellow of the American Economic Association. According to the Distinguished Fellow citation, Prof. Milgrom "is the world’s leading auction designer, having helped design many of the auctions for radio spectrum conducted around the world in the last thirty years, including those conducted by the U.S. Federal Communications Commission. His applied work in auction design and consulting has established new ways for economists to interact with the wider world. He is also a theorist of extraordinary breadth, who has provided (and still continues to provide) foundational insights not only into the theory of auctions (including his 1982 paper with Weber), but across the range of modern microeconomic theory."

Prof. Milgrom’s work has been widely recognized. He is a member of the National Academy of Sciences and the American Academy of Arts and Sciences. He received the 2008 Nemmers Prize, the 2012 BBVA Foundation Frontiers of Knowledge Award, the 2014 Golden Goose Award (with McAfee and Wilson), the 2018 CME Group-MSRI Prize in Innovative Quantitative Applications, and the 2018 John J. Carty Award for the Advancement of Science (with Kreps and Wilson). He is also the dissertation advisor of many successful economists.