Otago Daily Times

Eco­nom­ics prize to US pair

- Business · Stockholm · Alfred Nobel · Auctions · Robert Anton Wilson

Stockholm: US aca­demics Paul Mil­grom and Robert Wil­son won the 2020 No­bel Eco­nom­ics prize yes­ter­day for work on auc­tions hailed as ben­e­fit­ing buy­ers and sell­ers around the world of ev­ery­thing from fish­ing quo­tas to air­craft land­ing slots.

Mil­grom (72) and Wil­son (83) no­tably came up with for­mats for sell­ing in­ter­re­lated items si­mul­ta­ne­ously. In 1994, US au­thor­i­ties used one of their auc­tion de­signs to sell ra­dio fre­quen­cies to tele­com op­er­a­tors, a move since copied in other coun­tries. — Reuters

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