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A decade ago in the United States, the Federal Communications Commission (FCC) began a new era of allocating spectrum licenses by auctions. The 1994 FCC auction of 10 PCS licenses was an immediate success and raised US$617 million. The architects of that innovative auction design were Milgrom and Wilson. Their contribution has advanced the use of Game Theory in constructing other elaborate auctions, which have been adopted all over the world in, for example, procurements, large asset sales, electricity markets, 3G spectrum licenses, on-line advertising and, most recently, the Google IPO.
Professor Milgrom will share his first-hand experience in the development of these innovative uses of various auctions as researcher, consultant, and teacher. Special emphasis will be given to the leading edge designs used for "package procurement", a variation of the FCC spectrum auctions.
Professor Paul Milgrom is Leonard and Shirley Ely Professor of Humanities and Social Sciences and Professor of Economics at Stanford University. A Fellow of the American Academy of Arts and Sciences and the Econometric Society, he is coauthor with John Roberts of the 1992 landmark text Economics, Organization, and Management. Professor Milgrom's current research interests are in incentive theory, planning, and auction market design. He is internationally known for his work in spectrum auction design.
For other inquiries, please contact Ms. Mabel Woo of HKU's School of Economics and Finance at 2859-2192 or email mabel@econ.hku.hk.
Spectrum Licenses Auction Architect to Give a Public Lecture at HKU (Press Invitation)
21 Sep 2004
The School of Economics and Finance and the Hong Kong Institute of Economics and Business Strategy of the University of Hong Kong (HKU) will be hosting a public lecture by Professor Paul Milgrom, entitled "Recent Developments in Market Design" on September 23, 2004 (Thursday) at Rayson Huang Theatre, HKU from 6:00 p.m. to 7:30 p.m.
A decade ago in the United States, the Federal Communications Commission (FCC) began a new era of allocating spectrum licenses by auctions. The 1994 FCC auction of 10 PCS licenses was an immediate success and raised US$617 million. The architects of that innovative auction design were Milgrom and Wilson. Their contribution has advanced the use of Game Theory in constructing other elaborate auctions, which have been adopted all over the world in, for example, procurements, large asset sales, electricity markets, 3G spectrum licenses, on-line advertising and, most recently, the Google IPO.
Professor Milgrom will share his first-hand experience in the development of these innovative uses of various auctions as researcher, consultant, and teacher. Special emphasis will be given to the leading edge designs used for "package procurement", a variation of the FCC spectrum auctions.
Professor Paul Milgrom is Leonard and Shirley Ely Professor of Humanities and Social Sciences and Professor of Economics at Stanford University. A Fellow of the American Academy of Arts and Sciences and the Econometric Society, he is coauthor with John Roberts of the 1992 landmark text Economics, Organization, and Management. Professor Milgrom's current research interests are in incentive theory, planning, and auction market design. He is internationally known for his work in spectrum auction design.
For other inquiries, please contact Ms. Mabel Woo of HKU's School of Economics and Finance at 2859-2192 or email mabel@econ.hku.hk.
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