: Nobel Prize in economics awarded to Paul R Milgrom and Robert B Wilson #IndiaNEWS The Royal Swedish Academy of Sciences on Monday awarded the Nobel Prize in Economic Sciences to two American economists

Nobel Prize in economics awarded to Paul R Milgrom and Robert B Wilson #IndiaNEWS
The Royal Swedish Academy of Sciences on Monday awarded the Nobel Prize in Economic Sciences to two American economists – Paul R Milgrom and Robert B Wilson – for improving commercial auction and inventing new auction formats. “This year’s Laureates, Paul Milgrom and Robert Wilson, have studied how auctions work,??? a statement said. “They have also used their insights to design new auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Their discoveries have benefitted sellers, buyers and taxpayers around the world.???The winners will share a gold medal and the prize money of 10 million krona (approximately Rs 8.20 crore). Last year, economist Abhijit Banerjee and Esther Duflo, were given the award for more than 20 years of economic research to develop new ways to study and help the poor. BREAKING NEWS: The 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.???#NobelPrize pic.twitter.com/tBAblj1xf8— The Nobel Prize (@NobelPrize) October 12, 2020 With this prize, the 2020 Nobel season came to an end. This year, women have won more than usual – American poet Louise Glück won the literature prize while Emmanuelle...Read more

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