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Noble in Economics : Paul Milgrom and Robert Wilson

by News Monks

American economists Paul Milgrom and Robert Wilson have been awarded the 2020 Nobel Prize in economics for their contributions to auction theory.

Paul said that , once he was buying shoes online and his wife gave a suggestion that auction system needs some changes and from that paul took an inspiration.

Milgrom and Wilson, are professors at Stanford University in California, and recognized for theoretical discoveries that improved how auctions work. According to the Royal Swedish Academy of Sciences, they also designed auction format for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Robber is 73years old ND Paul is 83, they proved that age is just a number…

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