Abstract

The Marshall Lectures were founded in memory of Alfred Marshall, arguably the founder of modern economic science and undisputedly one of its pioneers.

These Lectures are one of the premier academic events held at the Faculty of Economics. They are attended by students, faculty, and are open to scholars across the University and to the general public.

Prof Paul Milgrom is best known for his contributions to the microeconomic theory, his pioneering innovations in the practical design of multi-item auctions, and the extraordinary successes of his students and academic advisees. According to his BBVA Award citation: “Paul Milgrom has made seminal contributions to an unusually wide range of fields of economics including auctions, market design, contracts and incentives, industrial economics, economics of organizations, finance, and game theory.” According to a count by Google Scholar, Milgrom’s books and articles have received more than 90,000 citations.