In 2020, the economist Paul Milgrom was awarded the economics prize in memory of Alfred Nobel for his research on auctions. Auctions play a vital role, for example, when a state wants to sell the rights to build mobile networks. On December 13, Paul Milgrom will come to Gothenburg to give a lecture on his research.
Paul Milgrom, professor at Stanford University, USA, was awarded the Sveriges Riksbank's prize in economic science in memory of Alfred Nobel, alongside his colleague Robert Wilson. They have both studied Auction Theory, i.e. the consequences of different rules for bidding and final price.
Johan Stennek, professor of economics at the University of Gothenburg, believes that the research has provided great societal benefit:
- It has become important for how the state proceeds when it sells certain assets, such as in 5G auctions in Sweden, but also how the state buys things like the cleaning or maintenance of roads. That is, how to organize government procurement and sales to get the best possible services for as little tax money as possible.
The lecture Why is water trading so difficult and how can it be done better? is in English.
www.gu.se/handelshogskolan