Nobel Prize in Economics Is Awarded for Invention of New Auction Formats

Nobel Prize in Economics Is Awarded for Invention of New Auction Formats

U.S. academics Paul R. Milgrom and Robert B. Wilson have been awarded the Nobel Prize in Economic Sciences for new insights into how auctions work, and how different auction designs can help buyers and sellers meet their goals.

The announcement Monday gave the U.S. a clean sweep of this year’s Nobel Prizes, with at least one American citizen winning in each of the five categories for which individuals were selected.

“There…

XL subscribe to our newsletter banner

Get the latest news and advice on COVID-19, direct from the experts in your inbox. Join hundreds of thousands who trust experts by subscribing to our newsletter.

Send your news and stories to us news@climaxradio.co.uk or newstories@climaxnewsroom.com and WhatsApp: +447747873668.

Before you go...

Democratic norms are being stress-tested all over the world, and the past few years have thrown up all kinds of questions we didn't know needed clarifying – how long is too long for a parliamentary prorogation? How far should politicians be allowed to intervene in court cases? To monitor these issues as closely as we have in the past we need your support, so please consider donating to The Climax News Room.