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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

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.