What is one of Paul Milgrom's notable contributions?
Broadcast incentive auction
Behavioral finance
Cryptocurrency analysis
Labor market studies
Answer
Broadcast incentive auction is one of Paul Milgrom's notable contributions. It's a market-based mechanism designed to reallocate spectrum from broadcasters to mobile broadband providers. The auction uses a novel combinatorial clock format that allows bidders to express their preferences for multiple licenses simultaneously. This format ensures that the spectrum is allocated efficiently and maximizes the revenue for the government.
Mastering Milgrom: A Nobel Journey Through Economics
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