Nobel Prize in Economics Found its Winners

Nobel Prize in Economics found its winners. The award went to Milgrom and Wilson. The 2020 Nobel Prize in Economics was awarded to Paul R. Milgrom and Robert B. Wilson of Stanford University for their contribution to the development of procurement theory.     Making a statement on Twitter, the Nobel Prize Committee said, "The 2020 Sveriges Riksbank Economic Sciences Award, given in memory of Alfred Nobel, was given to Paul R. Milgrom and Robert B. Wilson for improvements in procurement theory and inventions for new rendering formats." In the statement made by the Royal Swedish Academy of Sciences, the following statements were made: “(Milgrom and Wilson) They used their insights to design new auction formats for goods and services that are traditionally difficult to sell, such as radio frequencies.” Nobel prizes are awarded each year in the fields of physics, chemistry, medicine, peace and literature at the request of the Swedish inventor Alfred Nobel, who found dynamite and died in 1896. The Sveriges Riksbank Economic Sciences Prize given in Memory of Alfred Nobel was awarded 51 times to 84 people between 1969 and 2019.