Peter Cramton is professor of economics at the University of Maryland and an associate fellow of the R Street Institute. He has studied auction theory and practice since 1983, focusing particularly on the design of spectrum, electricity and treasury auctions.
He is chairman of Market Design Inc., an auction markets consultancy founded in 1995, and is chairman and founder of Cramton Associates LLC, which provides advice on auctions and market design.
Peter advised on the implementation of electricity auctions in France and Belgium, gas auctions in Germany, and the United Kingdom’s first-in-the-world auction for greenhouse gas emissions. He has advised ISO New England on electricity market design and was a lead designer of New England’s forward capacity auction.
He also has advised on greenhouse gas auctions in the United States and Australia; led the design of electricity and gas markets in Colombia; played a leading role in the design and development of the United Kingdom’s Ofcom spectrum auctions; and led the development of the Federal Aviation Administration’s airport slot auctions for the New York City airports.
He received his bachelor of science in engineering from Cornell University and his doctorate in business from Stanford University.