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Securities Markets

  1. Information, Trade and Common Knowledge (with Nancy Stokey), Journal of Economic Theory, 26, 1982, 17‑27.
  2. Private Information in an Auction‑Like Securities MarketAuctions, Bidding and Contracting: Uses and Theory, edited by R. Engelbrecht‑Wiggans, M. Shubik and R. Stark, New York: New York University Press, New York, 1983.
  3. Bid, Ask and Transactions Prices in a Specialist Market with Insider Trading (with Larry Glosten), Journal of Financial Economics, 14, 1985, 71‑100.
    • Reprinted in Financial Intermediaries, Mervyn Lewis (ed), London: Edward Elgar Publishing, 1984.
    • Reprinted in Microstructure: The Organization of Trading and Short Term Price Behavior, edited by Hans R Stoll, London: Edward Elgar Publishing, 1999.
  4. The Real Output of the Stock Exchange (with Timothy F. Bresnahan and Jonathan Paul), Output Measurement in the Services Sectors, edited by Zvi Griliches, 1992, 195-216.

Latest News

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...
Apr 19 2019
On April 12, 2019, Paul delivered the Robert Rosenthal Memorial lecture at Boston University. A video of that lecture is available here. 
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...