Skip to content Skip to navigation

Fishery Auctions in Chile

May 15 2011

On May 9-10, Paul was in Santiago, Chile to advocate the creation of individual transferable fishing quotas (ITQs) and the use of auctions to assign at least half of them. (Chilean law authorizes auctions only for half of the fishing rights.) The use of auctions would not change the total allowable catch, but would open the door to new entry by more efficient firms. Currently, entry is blockaded by a handful of firms that control all the rights. Not only would auctions enhance efficiency, but they would also capture a portion of the value of fishing rights for the Chilean population, just as radio spectrum auctions have promoted efficiency and captured value in many countries.

El Mercurio newspaper published an interview with Paul on May 10, which can be found below.

Latest News

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...
Feb 21 2020
Paul delivered the 2019 Aumann lecture, honoring Nobel Laureate Robert Aumann in Israel in July 2019. This lecture was expanded and updated for Paul's 2019 Marshall lectures, delivered over two days at Cambridge University in November, 2019. Those lectures were recorded and are available online  at...
Sep 10 2019
Auctionomics, working on behalf of the C-Band Alliance, has proposed a novel auction design called FUEL ("flexible use and efficient licensing") to sell rights to use the C-band for 5g. The design, proposed in June 2019, is a combinatorial design in which bidders can bid for between 0-9 licenses in...