CGTN published this video item, entitled “Americans Milgrom and Wilson awarded for work on auction theory” – below is their description.
For more: https://www.cgtn.com/video U.S. economists Paul Milgrom and Robert Wilson have been awarded the 2020 Nobel Economics Prize for their work on improving auction theory and the invention of new auction formats. In a statement, the Royal Swedish Academy of Sciences said their discoveries have benefited sellers, buyers and taxpayers around the world. Both men also developed auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. The two men teach at Stanford University – Milgrom is the Shirley and Leonard Ely professor of humanities and sciences while Wilson is the Adams Distinguished Professor of Management, Emeritus.
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