# Why auction design matters (ft. Nobel economist Paul Milgrom)

Page: https://stenobird.com/podcast/a16z-crypto-show-5434524/why-auction-design-matters-ft-nobel-economist-paul-milgrom
Text version: https://stenobird.com/podcast/a16z-crypto-show-5434524/why-auction-design-matters-ft-nobel-economist-paul-milgrom.md
Podcast: [a16z crypto show](https://stenobird.com/podcast/a16z-crypto-show-5434524)
Published: 2026-07-17T16:12:47+00:00
Episode link: https://web3-with-a16z.simplecast.com/episodes/first-principles-paul-milgrom-96zIJ_1g
Audio file: https://mgln.ai/e/1344/afp-848985-injected.calisto.simplecastaudio.com/bf52be5a-9faf-45fb-9bc3-bb4270ec53d9/episodes/8ba9e3d8-f4e5-4211-b378-0b640d621fc2/audio/128/default.mp3?aid=rss_feed&awCollectionId=bf52be5a-9faf-45fb-9bc3-bb4270ec53d9&awEpisodeId=8ba9e3d8-f4e5-4211-b378-0b640d621fc2&feed=XPOpH7r4
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JSON: https://stenobird.com/v1/public/podcasts/a16z-crypto-show-5434524/episodes/why-auction-design-matters-ft-nobel-economist-paul-milgrom
Duration seconds: 4680

## Resource

Long before onchain markets made mechanism design a daily engineering problem, Nobel Prize winner Paul Milgrom was asking how prices actually form — and how better auction rules could reshape actual markets.

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## Transcript

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