Paul Milgrom

Research: Microeconomic theory
Current Research: Market design, theoretical industrial organization

Paul Milgrom is the Shirley and Leonard Ely professor of Humanities and Sciences in the Department of Economics at Stanford University and professor, by courtesy, at the Stanford Graduate School of Business. He is a member of both the National Academy of Sciences and the American Academy of Arts and Sciences and a winner of the Nemmers Prize in Economics.

Milgrom is best known for his contributions to the theory of auctions, for pioneering contributions to the practical design of multi-item auctions, and for his success as a bidding advisor. Milgrom’s book Putting Auction Theory to Work was published by Cambridge University Press and received high praise from both Nobel-winning economists and leading practitioners.

His research has also advanced understanding in many other areas of economics, including incentive theory, industrial economics, economic history, economics of manufacturing, economics of organizations, and game theory. His book with John Roberts, Economics, Organization and Management, opened a new area to economic research. Lecture slides and problem sets for a course in auction theory course based on Milgrom’s book are available for download and extra material is available on request.

Milgrom’s most recent research focuses on issues of market design, including an emphasis on the ways that market participants express their preferences. See the working papers section of this website for additional details.