Paul Milgrom

Paul Robert Milgrom (born April 20, 1948 in Detroit, Michigan) is an American economist. He is the Shirley and Leonard Ely Professor of Humanities and Sciences at Stanford University, a position he has held since 1987. Professor Milgrom is an expert in game theory, specifically auction theory and pricing strategies. He is the co-creator of the no-trade theorem with Nancy Stokey. He is the co-founder of several companies, the most recent of which, Auctionomics, provides software and services that create efficient markets for complex commercial auctions and exchanges.

Biography

Paul Milgrom was born to Abraham Isaac Milgrom (born in Toronto, Canada) and Anne Lillian Finkelstein (born in Detroit). He was the second of four sons. At the age of six, his family moved to Oak Park, Michigan and Milgrom attended the Dewey School and then Oak Park High School (Michigan). In high school, Milgrom learned to play and analyze chess. He soon shifted his interests in strategic games to bridge. Milgrom showed an early interest in mathematics and attended summer programs at Ohio State University and entered the Michigan Mathematics Prize Competition while in high school.