Question:Who has been conferred the 2020 Nobel Prize in Economic Sciences?
(a) Paul R. Milgrom
(b) Robert B. Wilson
(c) Both (a) & (b)
(d) Elinor Ostrom
Answer: (c)
Related facts:
- The 2020 Nobel Prize in Economic Sciences was awarded jointly to American Economists Paul R. Milgrom and Robert B. Wilson.
- They have been awarded for improvements to auction theory and inventions of new auction formats benefitting sellers, buyers and taxpayers around the world.
- They have not just clarified how auctions work and why bidders behave in a certain way, but used their theoretical discoveries to invent entirely new auction formats for the sale of goods and services.
- Both economists are affiliated to Stanford University in California.
About the Award:
- Technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the prize was firstly awarded to Ragnar Frisch and Jan Tinbergen in 1969.
By-Amar Mani Upadhyay
Links:
https://www.nobelprize.org/prizes/economic-sciences/2020/press-release/