After earning a PhD at the Graduate School of Business, Professor Milgrom taught at Yale and Northwestern University before returning to Stanford. His many contributions to economics include auctions, incentive theory, industrial economics, economic history, manufacturing economics, economics of organizations, and game theory. Our primary textbook, coauthored with John Roberts, Economics, Organization and Management, had opened a new area to economic research.
He is most noted for his contributions to the theory of auctions and to the practice of auction design. Professor Milgrom had even advised actions for companies like Microsoft Networks, Google, and Yahoo!
Source: http://www.gsb.stanford.edu/faculty-research/faculty/paul-r-milgrom
Milgrom came to Northwestern while I was still a graduate student there. His collaboration with Roberts began then. They wrote a very provocative paper called - Limit Pricing Doesn't Limit Entry - which was an early piece on using signaling (in this case price as a signal) to convey private information. We'll talk about signaling later in the class.
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