Paul R. Milgrom and Robert B. Wilson received this Monday the Nobel Prize in Economics “for improvements in auction theory and inventions of new auction formats.”

The award was announced by the Royal Swedish Academy of Sciences, an entity that has delivered it since 1969 in the name of the Swedish Central Bank.

With the Economics section, the 2020 Nobel Prize round closes. Last week the prizes were awarded in the disciplines of Medicine, Physics, Chemistry, Literature and Peace.

Researchers Michael Houghton, Harvey J. Alter, and Charles M. Rice were awarded the Nobel Prize in Medicine for the discovery of the hepatitis C virus.

That of Physics this year fell to Roger Penrose, Reinhard Genzel, and Andrea Ghez for his findings on black holes; while Chemistry went to Emmanuelle Charpentier and Jennifer A. Doudna for developing a method to edit the genome.

For its part, Literature was for the American poet Louise Glück, while the UN World Food Program received the Peace Program.

All of the awards are presented on December 10, the anniversary of the death of the founder, Alfred Nobel, in parallel events in Stockholm, for scientists, Literature, and Economics, while the Peace is held in Oslo.

© The Eastern Herald

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