2 weeks US economists win 2020 Nobel prize for work on auction theory Inquirer
U.S. economists Paul Milgrom and Robert Wilson won the 2020 Nobel Economics Prize for improvements to auction theory and inventions of new auction formats, the Royal Swedish Academy of Sciences said on Monday. "The new auction formats are a beautiful example of how basic research can subsequently generate inventions that benefit society," the academy said in a statement. "Auctions are everywhere and affect our everyday lives. This year's Economic Sciences Laureates, Paul Milgrom and Robert Wilson, have improved auction theory and invented new auction formats, benefiting sellers, buyers and taxpayers around the world," the Nobel Prize's official website tweeted. New ... more