Robert B. Wilson

Robert Butler Wilson was born on May 16, 1943, in Geneva, Nebraska, United States. He later became a highly influential figure in economics, known for his contributions to auction theory and market design. His early life in Nebraska set the stage for his academic pursuits and eventual groundbreaking work in economics.

Robert B. Wilson earned his Bachelor of Arts degree from Harvard University in 1963, specializing in Mathematics. This foundational education provided him with the quantitative skills and analytical framework that he would later apply in his pioneering economic theories.

Robert B. Wilson married Mary Vasaly in June 1963. Their partnership has been a long-lasting personal union that supported Wilson through various phases of his academic and professional life, contributing to a stable personal foundation for his work in economics.

In 1964, Robert B. Wilson completed a Master of Business Administration (MBA) at Harvard Business School. This education broadened his understanding of business processes and prepared him for further studies and innovations in economic theory, particularly auction and pricing strategies.

Robert B. Wilson was awarded a Doctor of Philosophy (PhD) in Business Administration by Harvard University in 1967. His doctoral dissertation laid the groundwork for his future contributions to the fields of auction theory and market design, focusing on pricing strategies and resource allocation.

In 1970, Robert B. Wilson joined the faculty at the Stanford Graduate School of Business, where he would spend most of his academic career. At Stanford, he conducted significant research and collaborated with other economists to develop theories that revolutionized auction formats and market design.

In 1988, Robert B. Wilson published an influential paper on auction theory that set the stage for subsequent research in the field. His work provided critical insights into the design of auctions and how various auction formats can affect bidding strategies and outcomes.

Robert B. Wilson, along with other economists, was instrumental in designing the auction format used by the Federal Communications Commission (FCC) to allocate spectrum licenses. This auction, beginning in 1994, was one of the first major practical applications of auction theory.

In 2006, Robert B. Wilson published the book 'Market Design', which explored the principles and applications of market design theory. The book covered various aspects of economic theory related to auctions and resource allocation, significantly influencing academic thought and policy.

On October 12, 2020, Robert B. Wilson was awarded the Nobel Memorial Prize in Economic Sciences alongside Paul R. Milgrom for improvements to auction theory and inventions of new auction formats. Their work enhanced the efficiency of resource allocation in markets worldwide.

On December 10, 2020, Robert B. Wilson delivered his Nobel Prize lecture, which detailed his contributions to auction theory and market design. His lecture included insights on how theoretical research has practical applications in various economic fields.