Milgrom, Wilson bag Nobel Prize in Economics

The 2020 Nobel Prize in Economic Sciences has been awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.”

The Committee of the Nobel Prize announced the winner through Twitter.

“The 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats,” the Tweet mentions.

Milgrom, who was born in 1948 is a professor of Humanities and Sciences at Stanford University since 1987. He is also an expert in game theory, and specially in auction theory and pricing strategies.

Similarly, Robert Butler born in 1937 is an American economist and a distinguished Professor of Management at Standford University. He is recognized for his contribution to management science and business economics .