AEA Names Paul Milgrom a "Distinguished Fellow"
The American Economic Association has named Paul Milgrom a Distinguished Fellow, which is the associations highest honor for lifetime achievement. According to the award citation, Milgrom "is the world’s leading auction designer, having helped design many of the auctions for radio spectrum conducted around the world in the last thirty years, including those conducted by the U.S. Federal Communications Commission (ranging from the original simultaneous multiple round auction with activity rules, to the recent incentive auction for repurposing broadcast spectrum for modern uses). His applied work in auction design and consulting has established new ways for economists to interact with the wider world. He is also a theorist of extraordinary breadth, who has provided (and still continues to provide) foundational insights not only into the theory of auctions (including his 1982 paper with Weber), but across the range of modern microeconomic theory."