Workshop’s Topic: The 2020 Nobel Prize in Economics was awarded to Paul Milgrom and Robert Wilson for their contributions to auction theory and the invention of new auction formats. Their theoretical discoveries have enhanced auction practices, benefiting sellers, buyers, and taxpayers globally. Auction theory and practice represent a quintessential interdisciplinary research domain, integrating theoretical frameworks and methodologies from mathematics, economics, operations research, and other sciences. In the first half of my talk, I will provide a brief overview of auction theory and practice. I will introduce some key concepts and results in auction theory and then present examples of best practices in auctions. In the second half of my talk, I will share some of my recent studies on auction problems in the electricity capacity market.

Scholars Background: CHEN Hao is a Fellow of the British Academy of Social Sciences, the Operations Research Society (ORS), and the Society for Mathematics and its Applications (IMA). He is a professor at the University of Warwick in the UK and serves as a Chair Professor at Fudan University. Since 2006, he has been a nominated expert for the Nobel Prize in Economics. He received the Management Research Award from the UK Economic and Social Research Foundation in 1997 and the Science and Innovation Award from the UK Engineering and Physical Sciences Research Foundation in 2007. His primary research areas include combinatorial optimization, scheduling and transportation, game theory, and mechanism design.

Time and Location: March 28, 2025 | 3:00 PM (GMT+8), Room A523 (School of Management)

Language: Bilingual (Chinese and English)