Dr. Paul Milgrom

Professor

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Biography

Paul Milgrom holds the Shirley R. and Leonard W. Ely, Jr. Professorship in the School of Humanities and Sciences at Stanford University, where he also serves as a Professor of Economics by courtesy at the Stanford Graduate School of Business. He is renowned for his seminal contributions to economics, particularly in the design of auctions and market mechanisms. Milgrom's pioneering work on the simultaneous multiple round auction and the combinatorial clock auction has guided significant policy initiatives, including the design of the FCC's incentive auction that reallocated spectrum for mobile broadband use. An elected member of the National Academy of Sciences, he has earned numerous accolades including the BBVA Foundation's Frontiers of Knowledge Award and the CME-MSRI Prize for Innovative Quantitative Applications. With over 80,000 citations of his publications, he is recognized for his influential research across various fields including market design, game theory, and industrial organization. Milgrom has also been an impactful educator, guiding numerous graduate students and winning the Dean's Award for Excellence in Graduate Education at Stanford. He continues to contribute to the academic community as a Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR).

Research Interests

Auction Theory Market Design Game Theory Industrial Organization

Experience

Professor

1987-01-01 — Present

Stanford University • Stanford, California

Tenured faculty member in the Department of Economics.

Senior Fellow

2007-01-01 — Present

Stanford Institute for Economic Policy Research (SIEPR) • Stanford, California

Research and policy work in economic theory and applications.

Professor (by courtesy)

1987-01-01 — Present

Graduate School of Business, Stanford University • Stanford, California

Conduct research and teach graduate-level business courses.

Awards

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Honorary Doctorate

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Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

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John J. Carty Award for Advancement of Science

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CME-MSRI Prize for Innovative Quantitative Methods in Economics & Finance

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Dean's Award for Excellence in Graduate Education

Patents

Impression Allocation System Method Using Auction Considers Losing Bids

11,574,358 2023-02-07

Patent detailing a novel auction system.

System Configuration Implementation Assignment Auction Exchange

8,788,364 2014-07-22

Patent for a system related to auction exchanges.

System Method Efficient Clearing Spectrum Encumbrances

8,744,924 2014-06-03

Patent focusing on spectrum clearing methods.

Courses

ECON 136 ECON 391 ECON 203 ECON 139D ECON 239D ECON 199D ECON 299

Requirements for Stanford University

Doctorate Program
Requirements
GPA Requirement
Required:3.5
TOEFL
Listening
Required:26
Reading
Required:26
Writing
Required:26
Speaking
Required:26
Total
Required:100
GRE General
Verbal
Required:160
Quantitative
Required:165
Analytical Writing
Required:4.5
Overall
Required:4.5
Prerequisites
Bachelor degree from an accredited institution Strong background in mathematics and programming
Application Checklist
  • Statement of Purpose
  • Three letters of recommendation
  • Official transcripts
  • Resume/CV
Specialization Notes

The Computer Science department emphasizes research potential. GRE General is currently optional but recommended for some tracks.