On April 6, Prof. Paul Klemperer from the University of Oxford delivered a Department of Economics and Business Departmental Seminar on auction design. Prof. Klemperer is a leading expert on auctions, economic policy (especially bank regulation, competition policy, and climate change), and industrial economics. He has served as Edgeworth Professor of Economics at Oxford since 1995.

In his lecture, titled "The Art of Simple Multiproduct Auction Design", Prof. Klemperer presented his latest research on auction design, and gave an overview on practical applications including his work with central banks. He continued discussion with more general policy lessons.

Prof. Klemperer was the principal auction theorist for the UK's 3G mobile-phone licence auction which raised £22.5bn in 2000, and he advised the UK government on the world's first auction for greenhouse gas emissions reductions in 2002. In 2007-2008 he developed a new form of auction, the Product Mix Auction, to help the Bank of England alleviate the liquidity crisis, and he has since advised other central banks around the world. He participated in the meeting that drafted the Potsdam Memorandum to the 2007 UN Climate Change Conference in Bali, and he is on the Environmental Economics Academic Panel to the UK's Department of the Environment.

Find out more about Prof. Klemperer's latest papers and research on his personal website.