The CMD welcomes Steven Williams into his new role of Director of Research.
In 2016 Steven visited the CMD and presented his paper Price discovery using a double auction (co-authored with M. Satterthwaite and K. Zachariadis). He also presented a short course of three lectures for Ph.D. students on the k-double auction – a particular form of market organisation that he has studied extensively. Steven worked on the topic of ‘belief-free’ mechanisms as well as The asymptotics of price and strategy in the buyer’s bid double auction, a second project in collaboration with M. Satterthwaite and K. Zachariadis. Steven also consulted with academic staff and graduate students on their research interests.
Steven had been at the University of Illinois since 1992 after holding positions at the Institute for Mathematics and its Applications in Minneapolis, Bell Laboratories, and Northwestern University. His research is principally in the field of mechanism design, which is the formal and rigorous analysis of the comparative properties of economic protocols and procedures. More specifically, Steven’s research focuses on: communication, complexity, and incentives in economic organisations; the comparative properties of different procedures for organising exchange in markets; the interface between economics and computer science.