The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 — Paul R. Milgrom and Robert B. Wilson

Royal Swedish Academy of Sciences. (2020). The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 — Paul R. Milgrom and Robert B. Wilson: for improvements to auction theory and inventions of new auction formats.

Type

Web resource

Intellectual base

Web

Year

2020

Link

https://www.nobelprize.org/prizes/economic-sciences/2020/

Cited from

economics_finance

Cited by

2 citations across 2 artifacts.

Primes

• Auction Theory
  • Milgrom and Wilson shared the 2020 Nobel for "improvements to auction theory and inventions of new auction formats."
• Mechanism Design
  • The mathematical theory of optimal auction design, developed by Myerson, establishes that all feasible auction formats with the same allocation rule and lowest-type payoff produce identical expected revenue — a constraint that focuses design on participation and disclosure, not format.

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