Who won the Nobel Prize in Economic Sciences in Memory of Alfred Nobel 2020?
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Answer: C. Both A and B
Explanation
Paul R. Milgrom and Robert B. Wilson were jointly awarded the Nobel Prize in Economic Sciences for their auction innovations. They designed revolutionary new auction formats for goods and services that are difficult to sell in traditional markets. Their theoretical breakthroughs have benefited telecom providers, governments, and consumers worldwide through efficient spectrum allocation. The Sveriges Riksbank Prize in Economic Sciences honors intellectual achievements that solve complex resource allocation problems. Paul Milgrom and Robert Wilson are distinguished professors at Stanford University specializing in game theory and market design. Auction theory studies how different rules and bidding behaviors determine the final prices and distribution of scarce assets.
Paul R. Milgrom received his half of the prize for inventing ingenious new formats for simultaneous multi-object auctions. Robert B. Wilson received his half for explaining how auctions work and why bidders tend to shade their bids downward. The option stating none of above is incorrect because both economists were explicitly named as joint laureates.
- Subject
- Current Affairs
- Category
- World Current Affairs
- Topic
- —
- Difficulty
- medium
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