Lawrence M. Ausubel

Lawrence M. Ausubel is a Professor of Economics in the Department of Economics at the University of Maryland. He received his PhD in Economics (1984), Master of Legal Studies, and MS in Mathematics from Stanford University. His research focuses on microeconomic theory, game theory, and the economics of asymmetric information, with applications to auction theory and market design.

• PhD in Economics (Stanford University, 1984)
• Master of Legal Studies (Stanford Law School)
• MS in Mathematics (Stanford University)
• AB in Mathematics (Princeton University)

A leading expert in auction theory, Ausubel has made significant contributions to dynamic auctions, combinatorial bidding, and market mechanisms. His work includes developing the efficient ascending-bid auction format (known as the 'Ausubel auction'), analyzing durable goods monopoly, and studying bargaining under incomplete information. He has also explored credit card market dynamics, financial rescue strategies, and electricity market design.

Recent research involves cryptographic choice mechanisms, core-selecting auctions with incomplete information, and iterative pricing models. His publications span journals like Review of Economic Studies, American Economic Review, and Econometrica, with patents in auction technology and applications in telecommunications, energy, and finance.

• 23 U.S. patents related to auction technology
• Testified before U.S. Congress on credit card markets
• Founded Power Auctions LLC (2003)
• Co-inventor of auction formats used by FCC, ISED Canada, and ACMA