Nobel Prize Laureate, Author, Columbia University Graduate School of Business Professor and Former World Bank Chief Economist
How do we establish costs for electricity and other utilities that remain fair to everyone involved? That question has informed economics speaker Robert Wilson’s life’s work, and his efforts earned him the Nobel Prize in Economics. Events that explore the inner workings of markets, bidding schemes and auction mechanisms can choose no better keynote speaker.
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Much of the world’s energy supply is priced and delivered through bidding or other auction mechanisms. Everything from leases for drilling rights to the design of electrical substations and the rates charged for residential power owes something to the basic concept of the auction. No economist has more thoroughly explained auction theory, or rendered it more efficient, than Robert Wilson.
Since joining the Stanford Business School in the mid-1960s, Wilson has helped shape our understanding of how competitive bidding works. His book Nonlinear Pricing won the 1995 Leo Melamed Prize for its insights on how we value public utilities. Author of more than 100 scholarly articles and books, Wilson has deepened our knowledge of pricing, negotiation, and market design.
Above all, his scholarly work has made Wilson a trusted advisor throughout the public and private sectors. His work with Paul Milgrom established the auction model used by the FCC to award broadcast licenses. Government entities including the US Department of the Interior and the energy ministries of dozens of countries seek his counsel. He contributed to the designs of power exchanges in California, New England, and Ontario.
A fellow of the National Academy of Sciences and the Econometric Society, Wilson holds degrees from Harvard College and Harvard Business School. As a keynote speaker, Robert Wilson offers an unmatched perspective on the efficient, reliable delivery of critical resources.
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