2017 CME Group-MSRI Prize Announced
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The 12th annual CME Group-MSRI Prize in Innovative Quantitative Applications will be awarded to PAUL MILGROM, Shirley and Leonard Ely professor of Humanities and Sciences in the Department of Economics and professor, by courtesy, at both the Department of Management Science and Engineering and the Graduate School of Business at Stanford University, at a luncheon in Chicago on February 12, 2018.
The CME Group-MSRI Prize is awarded to an individual or a group to recognize originality and innovation in the use of mathematical, statistical or computational methods for the study of the behavior of markets, and more broadly of economics.
About Paul Milgrom
Paul Milgrom's primary research is directed to designing auctions for multiple unique but related items. Along with Robert Wilson, he introduced the initial design for sales of radio spectrum licenses in the United States. He has designed new auctions for Internet advertising and for procuring complex services. Research on incentives and complexity are combined to create auctions that are simple and straightforward for bidders, yet which dramatically improve resource allocation compared to traditional auction designs.
After earning his PhD at the GSB, Milgrom taught at Northwestern University and Yale before returning to Stanford. He has made well-known contributions to many areas of economics, including auctions, incentive theory, industrial economics, economic history, economics of manufacturing, economics of organizations, and game theory. His book coauthored with John Roberts, Economics, Organization and Management, opened a new area to economic research.
He is a member of the National Academy of Sciences and the American Academy of Arts and Sciences, and winner of the 2008 Nemmers Prize in Economics and the 2012 BBVA Frontiers of Knowledge award.
About the event
Prior to the lunch and award presentation, a panel discussion on Frontiers of Research in Market Design will be held with the following panelists:
- Mohammad Akbarpour, Assistant Professor of Economics, Graduate School of Business, Stanford University
- Piotr Dworczak, Assistant Professor, Department of Economics, University of Chicago
- Shengwu Li, Junior Fellow of the Society of Fellows, Department of Economics, Harvard University
- Ellen Muir, Research Fellow, School of Mathematics & Statistics, The University of Melbourne
Luncheon remarks, an appreciation of the life and work of Paul Milgrom:
- Roger Myerson, Glen A. Lloyd Distinguished Service Professor of Economics at the University of Chicago
Paul Milgrom will present at talk on A Market Process to Reallocate Radio Spectrum.
2017 CME Group-MSRI Prize Selection Committee:
Medal awarded to the winner of the CME Group-MSRI Prize
The CME Center for Innovation’s mission is to identify, foster and showcase examples of significant innovation and creative thinking pertaining to markets, commerce or trade in the public and private sectors.