What happens when economists think like engineers? On “Money Talks” with R_Shanbhogue, RyanAvent explains why this year’s NobelPrize goes to two economists who put cutting-edge theory into practice
who reimagined an ancient form of transaction—the auction.
Host Rachana Shanbhogue asks one of the winners, Paul Milgrom, how he put his cutting-edge theory into practice. Plus, the $100bn bet that has not paid off: why SoftBank’s Vision Fund failed to supercharge tech start-ups. And, how are investors
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The Nobel prize in economics rewards advances in auction theoryThis year’s Nobel prize in economics was awarded to Paul Milgrom and Robert Wilson for their work on auction theory and design
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Doorbell camera captures moment Nobel Prize winner is told by colleague he wonThe Nobel Committee was unable to contact Stanford professor Paul Milgrom, so his neighbor and fellow winner showed up at his door with the news.
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Paul Milgrom, Robert Wilson win Nobel economics award for auction theoryThe duo has been honoured for discoveries that 'benefitted sellers, buyers and taxpayers around the world' and includes work on goods and services difficult to sell in traditional ways such as radio frequencies.
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2 Stanford economists win Nobel prize for improving auctionsThe Nobel Prize in economics was awarded for “improvements to auction theory and inventions of new auction formats.” It comes as much of the world experiences the worst recession since World War II because of the impact of the coronavirus pandemic.
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