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As he did 20 years ago, Stanford economist Paul Milgrom again plays a key role in designing wireless spectrum auction

Paul Milgrom photo

More than two decades ago, Stanford economist Paul Milgrom played a key role in the design of the first wireless spectrum auction. Since then, the framework he helped create has been used in more than 80 auctions in the United States, generated billions of dollars in government licensing fees — and been replicated around the world. Now he and an interdisciplinary "dream-team" have developed a new auction process for converting light-demand television spectrum to much-needed mobile broadband spectrum. The conversion may create billions of dollars in consumer welfare gains.