The Prize in Economic Sciences to Paul R. Milgrom and Robert B. Wilson
The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 to the Stanford researchers Paul R. Milgrom and Robert B. Wilson.
The Prize in Economic Sciences 2020 goes to Milgrom and Wilson “for improvements to auction theory and inventions of new auction formats”.
Paul Milgrom and Robert Wilson have studied how auctions work. They have also used their insights to design new auction formats for goods and services that are diffcult to sell in a traditional way, such as radio frequencies. Their discoveries have beneftted sellers, buyers and taxpayers around the world.
Read the press release here
Read more about the Laureates here