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December 4, 2014

ScienceLives interview with Paul Milgrom

In 1994, when the Federal Communications Commission decided to allocate broadcast licenses via auction rather than lottery, it didn't do so in a vacuum. The rationale for the move came from the work of economists and other researchers--Paul Milgrom key among them. He and colleague Robert Wilson developed the "simultaneous ascending auction" based on their previous research in game theory. As of December, 2011, the spectrum auctions have put more than $51 billion into the U.S. Treasury, according to the FCC.

Credit: NSF


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