Peter Cramton
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Professor Peter Cramton +1 240 479 9345 |
Peter Cramton is Professor of Economics at the University of Maryland. Since 1983, he has conducted research on auction theory and practice. This research appears in the leading economics journals. The main focus is the design of auctions for many related items. Applications include spectrum auctions, electricity auctions, and treasury auctions. On the practical side, he is Chairman of Market Design Inc., an economics consultancy founded in 1995, focusing on the design of auction markets. He also is Founder and Chairman of Cramton Associates LLC, which since 1993 has provided expert advice on auctions and market design. Since 2001, he has played a lead role in the design and implementation of electricity auctions in France and Belgium, gas auctions in Germany, and the world’s first auction for greenhouse gas emissions held in the UK in 2002. He has advised numerous governments on market design and has advised dozens of bidders in high-stake auction markets. Since 1997, he has advised ISO New England on electricity market design and was a lead designer of New England’s forward capacity auction. He led the design of electricity and gas markets in Colombia, including the Firm Energy Market, the Forward Energy Market, and the Long-term Gas Market. Since June 2006, he played a leading role in the design and development of Ofcom’s spectrum auctions in the UK. He has advised the UK, the US, and Australia on greenhouse gas auction design. He led the development of the FAA’s airport slot auctions for the New York City airports. He received his B.S. in Engineering from Cornell University and his Ph.D. in Business from Stanford University.
This web site includes a collection of papers by Peter Cramton and his co-authors. The main topics are auctions, market design, and bargaining, including both theoretical and empirical studies. Highlights displays a few of my most widely cited papers. The auction and market design papers are primarily concerned with auction design, especially in spectrum markets, electricity markets, financial markets, and health care. The bargaining papers focus on the role of time and information in bargaining. Applications include union contract negotiations. There are also several papers climate policy and other topics. All papers are available in pdf format. Published papers are copyrighted by the publisher. Users may make a single copy of published papers for educational purposes.
The site also includes a market design blog, featuring news and discussions on market design topics.
Also included are all my expert reports, affidavits, and testimony.
Finally, the materials for each of my courses are included.
My vita in pdf is here or you can view the online version. You can also Google Scholar all of my research or by topic. And here is Google Scholar Citation.