Thursday, December 24, 2009

Milgrom on Market Design

Northwestern University has awarded the 2009 Erwin Plein Nemmers Prize in Economics to Prof. Paul Milgrom of Stanford University for his contributions in many fields of modern economic theory, including auction and market design, information economics and economics of organizations. The prize lecture given by Prof. Milgrom was titled "The Promise and Problems of Market Design", in which "he reviewed the goals of market design and the unavoidable trade-offs that are sometimes required, and explored how economists should seek to resolve these trade-offs." The presentation slides can be accessed here as well as the entire video recording of this lecture.

A follow-up Conference in Honor of Paul Milgrom was also held, the speakers and their presentations are listed below:

Vijay Krishna (Pennsylvania State University): Auctions and Information[Presentation and Bibliography - PDF]
Larry Ausubel (University of Maryland): Auctions with Multiple Objects[Presentation - PDF] [Bibliography - PDF]

Panel Discussion: Market Design
Susan Athey (Harvard University) [Slides]
Preston McAfee (Yahoo! Inc.) [Slides]
Paul Milgrom (Stanford University) [Slides]
Alvin Roth (Harvard University) [Slides]

Stephen Morris (Princeton University): Trade and Information[Presentation - PDF] [Bibliography - PDF]
Bengt Holmstrom (Massachusetts Institute of Technology): Agency Models[Presentation - PDF] [Bibliography - PDF]
John Roberts (Stanford University): Organizational Economics[Presentation - PDF]

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