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Of: Linus lindgren, TT
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Paul R. Milgrom and Robert B. Wilson receive the Alfred Nobel Memorial Prize in Economics for their development of new auction formats.
– Auctions affect us much more than we think. For example, you likely bought your home through auction, says Peter Fredriksson, chairman of the pricing committee.
This year’s last Nobel Prize was presented today when the Academy of Sciences announced that Paul R. Milgrom and Robert B. Wilson received the economics prize in memory of Alfred Nobel, who is sometimes incorrectly called the Nobel Prize in Economics. .
– First second Third! This year’s award is all about auctions, says Göran K Hansson, permanent secretary of the Academy of Sciences.
They receive the award for their studies on how auctions work and their work to design new types of auctions for goods and services that cannot be sold in the traditional way, the Royal Swedish Academy of Sciences writes in a press release.
– Auctions affect us more than we think, says Professor Peter Fredriksson, chairman of the price committee.
It affects, among other things, the real estate market and the electricity market, remember.
Researchers have helped apply auction theories to realistic use areas, according to Fredriksson.
“Very good news”
Robert Wilson is on the phone during the presentation.
– This is very gratifying news. I’m happy about this, he says, noting that it’s still very early in the morning in California, where he is.
Researchers developed the new auction models 26 years ago. According to Lund University professor Tommy Andersson, the discoveries of Milgrom and Wilson have been crucial in designing new and complex auction formats.
According to Andersson, the auction model developed by the two researchers in 1994 is used for all types of sales procedures, in auctions of landing rights for airlines, radio spectrum for telecommunications companies or fishing quotas.
Paul R Milgrom and Robert B Wilson receive the 2020 Economics Prize
Nobel Prize 2020
Winner 2020:
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Peace Prize: UN Food Program, “for their efforts to combat hunger.”
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Literature: Louise Glück, USA, for “her unmistakable poetic voice”.
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we have: Emmanuelle Charpentier, France, and Jennifer A Doudna, United States, for genetic scissors, developing a method of genetic modification.
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Physical: Roger Penrose, UK, Reinhard Genzel, Germany, and Andrea Ghez, USA, for their discoveries about black holes in space.
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Physiology or medicine: Harvey J. Alter, USA, Michael Houghton, England, and Charles M. Rice, USA, for their discoveries on hepatitis C.
Photo: Anders Wiklund / TT
Peter Fredriksson, chairman of the committee for economics, and Göran K. Hansson, permanent secretary of the Academy of Sciences, present this year’s Nobel laureates in economics during a press conference at the Royal Academy of Sciences. Paul R Milgrom and Robert B Wilson share the Riksbank Economics Prize in memory of Alfred Nobel.
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