Auction Theory[Bearbeiten]

Lfd.	Titel	Abstract	Bewertung
1	Second Price Sealed Bid	Lecture starts at 28:40.	30 views

SE Auction Theory[Bearbeiten]

Titel	Abstract	Bewertung
Paul Milgrom "Auctions and Matching: the New Science of Market Design" at FCC	Auctions and Matching: the New Science of Market Design Paul Milgrom, Stanford University September 9, 2003 In this 88 minute lecture, Professor Milgrom looks at several recent successful auction designs. These include the FCC simultaneous multiple-round auction which allocates spectrum, the National Resident Matching Program which matches doctors to hospital residency programs, and the EDF auction of power generation capacity. He also discusses recent academic research in market design, including empirical, theoretical, and experimental work. Moreover, Professor Milgrom also discusses a number of important insights arising out of that academic work. These include, for example, information on why muti-round auctions may be needed to find stable allocations, how product complementarity can lead to seller market power in exchanges, and why proxy bidding can eliminate collusion and speed the market-clearing process. Professor Milgrom holds an MS in statistics and PhD in business from Stanford University, where he now teaches in the Department of Economics. This lecture is part of the FCCs Excellence in Economics Program which is intended to train FCC staff members.
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