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Cramton Associates LLC

Since 1993, Cramton Associates has provided expert advice on auctions and market design to clients worldwide in many industries. Its founder, Peter Cramton, is a leading expert on auction design and auction strategy. For two decades he has advised governments in the design and implementation of simple and effective auction markets. He also has advised bidders participating in high-stake auction markets in many countries and in many industries.

Since 2006, Pat Sujarittanonta has worked with Peter Cramton in the development of auction markets and in advising bidders participating in high-stake auctions. Pat began full-time work with Cramton Associates in January 2011. In May 2012 he returned to Thailand to join the Faculty of Economics at Chulalongkorn University, but continues to work with Cramton Associates as a Principal on a part-time basis.

Since 2008, Robert Day has worked with Peter Cramton in the design, implementation, and testing of complex auction markets, especially combinatorial spectrum auctions. Bob is an associate professor of operations and information management at the University of Connecticut.

In 2014, David Malec joined Cramton Associates as a Principal. David is primarily working on computational and algorithmic issues in the FCC Incentive Auction scheduled to take place in April 2016. David is also a post-doc at the Economics Department of the University of Maryland.

In 2014, Hector Lopez joined Cramton Associates as a Principal. Hector is primarily working on  computational and algorithmic issues in the FCC Incentive Auction scheduled to take place in early 2016. Hector is also a doctoral candidate at the Economics Department of the University of Maryland.

In 2015, Darrell Hoy joined Cramton Associates as a Principal. Darrell is primarily working on computational and algorithmic issues in the FCC Incentive Auction scheduled to take place in April 2016. Darrell is also a post-doc at the Economics Department of the University of Maryland.

For their analyses, experts at Cramton Associates make use of the most powerful tools available for data visualization, mathematical and statistical analysis, optimization and presentation. Our work is documented in highly-cited research papers and in regulatory filings.

We work with our affiliates, Market Design Inc., Innovative Auctions Ltd and Power Auctions LLC, in the design and implementation of state-of-the-art auction markets.

We maintain a Market Design blog at cramton.umd.edu.

The bios of Peter Cramton, Pat Sujarittanonta, David Malec, Hector Lopez, and Darrell Hoy follow.

Peter Cramton, Chair

peter-cramton-italy-head-200x205 Professor Peter Cramton
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+1 240 479 9345
pcramton@gmail.com
www.cramton.umd.edu

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.

Pat Sujarittanonta, Principal

Pat Sujarittanonta
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+66 81 644 2958
pacharasut@gmail.com

Pacharasut (Pat) Sujarittanonta is on the Faculty of Economics at Chulalongkorn University in Thailand and a Principal of Cramton Associates LLC. His research focuses on auctions and market design, particularly discrete auctions. He has worked on a variety of issues such as spectrum auction, antitrust and merger and acquisition. He has advised wireless companies and led the development of bid tracking tools for several spectrum auctions. He has extensive experience in analyzing bidding behavior and conducting simulations of wholesale electricity markets. Sujarittanonta received his First Class Honor B.Eng. in Computer Engineering and his M.A. in International Economics and Finance from Chulalongkorn University, Thailand and is received his Ph.D. in Economics from the University of Maryland, College Park.

Robert Day, Principal

Robert Day
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+1  860 486 5293
Bob.Day@business.uconn.edu

Robert Day is a leader in auction design research, with several billions of dollars in revenue generated for government consulting clients in telecommunications regulation. His work emphasizes the synthesis of cutting-edge ideas from Computer Science, Economics, and Operations Research. With a PhD in Applied Mathematics and Operations Research from the University of Maryland and additional research in Hospital Management, Scheduling, Grid Computing, Decision Analysis, and Non-Transferable-Utility Allocation, his work has been recognized with the Dantzig Dissertation Award and the INFORMS Computing Society Prize. He is currently Associate Professor of Operations and Information Management at the University of Connecticut, and Co-director of the Management and Engineering for Manufacturing Program.

David Malec, Principal

David Malec
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+1 847 302 3978
dlmalec@gmail.com

David Malec is a Principal of Cramton Associates LLC and a post-doc at the Economics Department of the University of Maryland. His research focuses on topics on the interface between the fields of computer science and economics, and how complex economic settings can be approached algorithmically.  Of particular interest is how algorithmic techniques in approximation can be used to design near-optimal economic mechanisms in settings where exactly-optimal have proven elusive, and how such techniques can be adapted to take advantage of the types of information available in practical economic settings. His work has appeared in top conferences in algorithmic game theory and theoretical computer science.  He received his B.A. in Computer Science and Mathematics from Lake Forest College in 1997, and his Ph.D. in Computer Science from the University of Wisconsin, Madison in 2014.

Hector Lopez, Principal

Hector Lopez
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+1 301 204 3909
hlopezcarbajal@gmail.com

Hector Lopez is a Principal of Cramton Associates LLC and a doctoral candidate at the Economics Department of the University of Maryland. His research focuses on market design. He has developed a model in which several matching markets can be analyzed simultaneously as a single matching market with constraints. He has shown that strategy-proofness is possible in a two-sided matching setting in settings where an opportunity cost condition is satisfied. He has also developed a practical implementation of a Pigouvian tax to address traffic congestion. He was the 2014 winner of the Best Paper in Economics competition at the University of Maryland. He received a B.A. in economics in 2007 and a Master’s in economic theory from ITAM in 2009.

Darrell Hoy, Principal

Darrell Hoy
Cramton Associates LLC
6418 Dahlonega Rd
Bethesda MD 20816
+1 617 755 3537
darrell.hoy@gmail.com

Darrell Hoy is a Principal of Cramton Associates LLC and a post-doc at the Economics Department of the University of Maryland. His research focuses on topics on the interface between the fields of computer science and economics, particularly in understanding when simple auctions and mechanisms behave well in rich economic environments. His work has appeared in top conferences in algorithmic game theory and theoretical computer science.  He received his B.A. in Computer Science and Mathematics from Dartmouth College in 2007, and his Ph.D. in Computer Science from Northwestern University in 2015.