Discovering Auctions: Contributions of Paul Milgrom and Robert Wilson*

Concepts and Properties of Substitute Goods ∗ Paul Milgrom

We distinguish two notions of substitutes for discrete inputs of a firm. Class substitutes are defined assuming that units of a given input have the same price while unitary substitutes treat each unit as a distinct input with its own price. Unitary substitutes is necessary and sufficient for such results as the robust existence of equilibrium, the robust inclusion of the Vickrey outcome in the...

JEAN - PAUL THIERY , ROBERT BRACKENBURY , and GERALD

We have previously identified a molecule (named cell adhesion molecule [CAM]) that is involved in the in vitro aggregation of neural cells from chick embryos. In the present report, specific anti-CAM antibodies have been used to demonstrate that CAM is localized in neural tissues, and is associated with the plasma membrane of retinal cells and neurites. Furthermore, it has been shown by antibod...

Robert A . Wilson The Finite Simple Groups

Paul Klemperer : Auctions : Theory and Practice

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Discovering the Game in Auctions

Auctions are pervasive in today’s society. They provide a variety of markets, ranging from consumer-toconsumer online auctions to government-to-business auctions for telecommunications spectrum licenses. Starting from a set of trading strategies, this article enables a strategic choice by introducing the use of linear programming as a methodology to approximate heuristic payoff tables by normal...