Two American economists share the 2020 Nobel Prize in Economics for their work in the theory of auction markets
Milgrom and Wilson, who are both professors at Stanford University in California, were recognized for theoretical discoveries that improved how auctions work. According to the Royal Swedish Academy of Sciences, they also designed auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies.
World Food Programme wins Nobel Peace Prize for fight against 'hunger as a weapon of war'In 1994, US authorities first used one of their formats to sell bands of radio spectrum. Doing so helped ensure that taxpayers were benefiting from the sale of radio frequencies that were owned by the government but of enormous value to mobile network operators.Read MoreThe prize for economics is officially known as the Sveriges Riksbank Prize in Economic Sciences.
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Nobel Prize in economics awarded to Paul Milgrom and Robert WilsonAmerican economists Paul Milgrom and Robert Wilson have been awarded the 2020 Nobel Prize in economics for their contributions to auction theory, the Royal Swedish Academy of Sciences said on Monday.
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Nobel Prize in Economics awarded to Paul Milgrom and Robert Wilson of Stanford University
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U.S. Economists Wilson And Milgrom Win Nobel In Economics For Work In Auction TheoryTwo american economists won the 2020 Nobel Prize in economic sciences, the prize committee announced on Monday.
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American economists awarded Nobel Prize in economics for work on auction theoryThe 2020 Nobel Prize in Economic Sciences has been awarded to Paul R. Milgrom and Robert B. Wilson for work on commercial auctions.
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2 Americans win Nobel prize in economics for auction theorySTOCKHOLM (AP) — Americans Paul R. Milgrom and Robert B. Wilson won the Nobel Prize in economics on Monday for “improvements to auction theory and inventions of new auction formats.” “Their...
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