At Pendari, we are truly honored and excited to have had the opportunity to create a website for a thought-leader as influential as Dr. Paul Milgrom. Showcasing the work of a Nobel Prize laureate in economics and celebrating his groundbreaking contributions to auction theory and market design has been an inspiring experience.
About Dr. Paul Milgrom
Paul Milgrom, Ph.D., is a distinguished American economist, academic, and Nobel Prize laureate, currently serving as the Shirley and Leonard Ely Professor of Humanities and Sciences in the Department of Economics at Stanford University. Born on April 20, 1948, in Detroit, Michigan, Milgrom’s lifelong fascination with economics and mathematics led him to become one of the foremost experts in game theory, auction theory, and market design.
Milgrom earned his B.A. in Mathematics from the University of Michigan in 1970 before pursuing an M.S. in Statistics from Stanford University in 1978. He obtained his Ph.D. in Business from Stanford Graduate School of Business in 1979. Milgrom then held positions at Northwestern University and Yale University before joining the faculty at Stanford in 1987.
Throughout his illustrious career, Milgrom has made pioneering contributions to the understanding of auctions and the design of innovative marketplaces. His work with fellow economist Robert B. Wilson, which developed new formats for auctions that are now widely used to allocate scarce resources, has had a significant impact on various industries, including telecommunications and energy. Milgrom’s research has also played a critical role in the Federal Communications Commission (FCC) spectrum auctions in the United States.
In recognition of his groundbreaking work, Paul Milgrom, along with Robert B. Wilson, was awarded the 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The Nobel committee commended their achievements in improving auction theory and inventing new auction formats, which have generated substantial benefits for society.
Aside from his Nobel Prize, Milgrom has received numerous accolades throughout his career, including the John J. Carty Award for the Advancement of Science in 2012 and the Golden Goose Award in 2014. He is also a member of prestigious organizations such as the National Academy of Sciences and the American Academy of Arts and Sciences.
As a revered economist, professor, and researcher, Paul Milgrom’s contributions to the fields of game theory and market design have revolutionized the way auctions are conducted and resources are allocated. His work continues to shape the global economic landscape and inspire future generations of economists.
In 2020, Paul Milgrom was co-recipient, with Robert Wilson, of the Sveriges Riksbank Prize in Economic Sciences in Honor of Alfred Nobel “for improvements to auction theory and inventions of new auction formats.” Visit his website for an insight into his work, papers, and latest activities.