The 2020 Nobel Prize in Economics went to two American economists, Paul R. Mulgram and Robert B. Wilson.
The two figures were awarded this year's Nobel Prize in Economics for improving the auction theory and creating new auction formats that include additional benefits for sellers, buyers and taxpayers around the world. Declared entitled.
Paul R. Milgroom and Robert B. Wilson are from Stanford University in California. In their research, they created new auction designs for items and services that are difficult to auction in the traditional way, such as radio frequencies, airport landing slots and fishing quotas.
Peter Federickson, chairman of the Nobel Committee, said his research had led to a workable method of auctioning around the world that had benefited society.
Paul R. Milgrum, 72, and Robert B. Wilson, 83, developed the theory of auctioning items of the same value, which was previously unclear. However, they eventually created it successfully.
