Nobel Prize 2020: Paul Milgrom and Robert Wilson had been awarded the Nobel Prize in Economics.
Stockholm:
US economists Paul Milgrom and Robert Wilson received the Nobel Economics Prize on Monday for work on business auctions, together with for items and providers troublesome to promote in conventional methods equivalent to radio frequencies, the Nobel Committee stated.
The duo was honoured “for enhancements to public sale concept and innovations of recent public sale codecs,” the jury stated.
The Royal Swedish Academy of Sciences famous that the discoveries by Milgrom, 72, and Wilson, 83, “have benefitted sellers, patrons and taxpayers all over the world,” it stated in an announcement.
The winners will share the prize sum of 10 million Swedish kronor (about $1.1 million, 950,000 euros).
Final 12 months the honour went to French-American Esther Duflo, Indian-born Abhijit Banerjee of the US, and American Michael Kremer for his or her experimental work on assuaging poverty.
Even when it is perhaps probably the most prestigious prize an economist can hope to obtain, the economics prize has not reached the identical standing as these initially chosen by Alfred Nobel in his will, which included medication, physics, chemistry, literature and peace.
It was as an alternative created by way of a donation from the Swedish central financial institution and detractors have thus dubbed it “a false Nobel.”
The prize closes the 2020 Nobel season which up to now has seen the peace prize awarded to the UN’s World Meals Programme.
Girls have been extra prevalent than typical this 12 months, with American poet Louise Gluck successful the literature prize.
And Frenchwoman Emmanuelle Charpentier and American Jennifer Doudna grew to become the primary all-female duo to win a scientific Nobel on Wednesday, clinching the chemistry award for his or her discovery of the CRISPR-Cas9 DNA snipping “scissors.”
Winners would usually obtain their Nobel from King Carl XVI Gustaf at a proper ceremony in Stockholm on December 10, however the pandemic means it has been changed by a televised ceremony displaying the laureates receiving their awards of their house international locations.
(Apart from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
Source link
