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About

Paul Milgrom is the Shirley and Leonard Ely professor of Humanities and Sciences in the Department of Economics at Stanford University and professor, by courtesy, at both the Department of Management Science and Engineering and the Graduate School of Business. 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, the 2012 BBVA Frontiers of Knowledge award, and the 2017 CME-MSRI prize in Innovative Quantitative Applications, and the 2018 Carty Award for the Advancement of Sciences from the National Academy of Sciences.

Milgrom is best known for his contributions to the microeconomic theory, his pioneering innovations in the practical design of multi-item auctions, and the extraordinary successes of his students and academic advisees. According to his BBVA Award citation: “Paul Milgrom has made seminal contributions to an unusually wide range of fields of economics including auctions, market design, contracts and incentives, industrial economics, economics of organizations, finance, and game theory.” According to a count by Google Scholar, Milgrom’s books and articles have received more than 86,000 citations.

Academic Degrees

  • PhD in Business, Stanford University, 1979
  • MS in Statistics, Stanford University, 1978
  • AB, University of Michigan, 1970

Academic Appointments

  • At Stanford University since 1987
  • Shirley R. and Leonard W. Ely Jr. Professor of Humanities and Sciences, Stanford University Economics Department, 1993-present
  • Professor of Economics, Stanford University Economics Department, 1987-1993
  • Williams Brothers Professor of Management, Yale University, 1985-1987
  • Professor of Management, Yale University, 1983-1985
  • Assistant Professor and Professor of Economics, Northwestern University, 1979-1983
     

Awards and Honors

  • John J. Carty Award for the Advancement of Science, 2018
  • CME-MSRI prize for Innovative Quantitative Applications, 2017
  • Stanford H&S Dean's Award for Distinguished Teaching, 2017
  • BBVA Frontiers of Knowledge Prize (category: Economics, Finance and Management), 2012
  • Nemmers Prize in Economics, Northwestern University, 2008
  • National Academy of Sciences, 2006
  • Honorary Doctorate, Stockholm School of Economics, 2001
  • American Academy of Arts and Sciences, 1992
  • Fellow, Econometric Society, 1984

Personal

Born: April 20, 1948 in Detroit, Michigan
Spouse: Eva Meyersson Milgrom
Children: Joshua Thurston-Milgrom and Elana Thurston-Milgrom
Grandchildren: Shepherd Thurston-Milgrom and Noomi Dahman Meyersson

Latest News

May 1 2018
Paul Milgrom today was welcomed as the new chair of the economics section of the National Academy of Sciences. The Academy was created by President Abraham Lincoln to advise the United States on scientific matters. At its annual meeting, which ended yesterday, Paul was also a co-recipient of the...
Apr 16 2018
The $20 billion incentive auction was a complicated beast, and its auction design and implementation have rightly been celebrated, but they were just part of the successful spectrum reallocation process. The operations research and analytical pieces were crucial as well, and the key people included...
Apr 2 2018
The Stanford Institute for Economic Policy Research (SIEPR) has released a new article about Paul here, and Stanford's GSB has another article here about Paul and his co-winners of the Carty Prize from the National Academy of Sciences.