The Nobel Prize 2020 in Economic Sciences on Monday was awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.” The winners were announced Monday in Stockholm by Goran Hansson, secretary-general of the Royal Swedish Academy of Sciences.
The award is also known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the award was established in 1969 and is now widely considered one of the Nobel prizes.
Facts about this year’s Laureates
Paul R. Milgrom, born 1948 in Detroit, USA.
Ph.D. 1979 from Stanford University, Stanford, USA. Shirley and Leonard Ely Jr. Professor of Humanities and Sciences, Stanford University, USA.
Robert B. Wilson, born 1937 in Geneva, USA.
D.B.A. 1963 from Harvard University, Cambridge, USA. Adams Distinguished Professor of Management, Emeritus, Stanford University, USA.
Nobel prize is the most prestigious award in the world. This award is administered by the Nobel Foundation in stockholm, sweden. This prize consists of a medal, personal diploma and a cash award.
Every year since 1901,the Nobel prize has been awarded for achivements in physics, chemistry, physiology or medicine, Literature and for peace. In 1968,Sveriges Riksbank(Swedens central bank)established prize in economic science in memory of Alfred Nobel, founder of the Nobel prize.