Thursday, August 5, 2021

Paul R Milgrom and Robert B Wilson get Nobel Prize 2020 for Economics

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

The Nobel Prize Committee took to Twitter to announce the winner: “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’.”

MUST READ  Small Business Recovery Grant expanded, extended till Aug 31

Robert Wilson – awarded this year’s Prize in Economic Sciences – showed why rational bidders tend to place bids below their own best estimate of the common value: they are worried about the winner’s curse – that is, about paying too much and losing out.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 51 times to 84 Laureates between 1969 and 2019.

In 2019, colleagues and married couple Esther Duflo, a French and Abhijit Banerjee, an Indian born received the news that they had been awarded the 2019 Prize in Economic Sciences.

MUST READ  Move to strengthen small, medium sized charities

 

Latest news

MUST READ  Senator Jim Molan takes leave to fight 'aggressive form of cancer'

India get Olympic medal after 41 yrs in Hockey, beat Germany 5-4 to get Bronze

A resolute Indian men's hockey team rewrote history as it claimed an Olympic medal after 41 years, defeating a plucky Germany 5-4 to win...

UK eases entry restrictions for fully vaccinated passengers from India

Fully vaccinated Indian passengers flying to the UK will no longer be put through a mandatory 10-day hotel quarantine as the UK moved the...

Transgender Olympian Laurel Hubbard’s dead silence at reporter’s question

New Zealand’s transgender weightlifter Laurel Hubbard cemented her place in history on Monday evening, but it led to an awkward moment at a press...

SPC makes COVID-19 vaccines mandatory for all staff

In an Australian first, manufacturer SPC is making the coronavirus vaccine mandatory for all staff. It is the first non-health care company to make the...

Related news

India get Olympic medal after 41 yrs in Hockey, beat Germany 5-4 to get Bronze

A resolute Indian men's hockey team rewrote history as it claimed an Olympic medal after 41 years, defeating a plucky Germany 5-4 to win...

UK eases entry restrictions for fully vaccinated passengers from India

Fully vaccinated Indian passengers flying to the UK will no longer be put through a mandatory 10-day hotel quarantine as the UK moved the...
MUST READ  Pope undergoes colon surgery at Rome hospital

Transgender Olympian Laurel Hubbard’s dead silence at reporter’s question

New Zealand’s transgender weightlifter Laurel Hubbard cemented her place in history on Monday evening, but it led to an awkward moment at a press...

SPC makes COVID-19 vaccines mandatory for all staff

In an Australian first, manufacturer SPC is making the coronavirus vaccine mandatory for all staff. It is the first non-health care company to make the...

Victoria records five new cases, Queensland 16

Victoria has recorded six new covid-19 infections today after more than 27,000 people came forward for testing. Three of the cases, including one which was reported...

Five Covid deaths in NSW; snap lockdown for Newcastle and Hunter region

The number of active cases in NSW continues to climb with 262 new infectious announced on Thursday morning, the highest number of daily infections...

Himachal makes negative RT-PCR report mandatory for tourists entering state

In view of the increasing Covid cases in the state, Himachal Pradesh has made negative RT-PCR report mandatory for tourists entering the state. The Disaster...

“Himmat Rakhna,” Parents had said before they died of Covid, daughter scores full marks in class X

Vanisha Pathak of Madhya Pradesh's Bhopal scored 100 in her English, Sanskrit, Science and Social Science Class X CBSE exams, and 97 in Mathematics...