Nobel Prize In Economics Goes To Paul R Milgrom, Robert B Wilson For Improvements To Auction Theory

STOCKHOLM — Americans Paul R. Milgrom and Robert B. Wilson have won the Nobel Prize in economics for “improvements to auction theory and inventions of new auction formats.”

The winners were announced Monday in Stockholm by Goran Hansson, secretary-general of the Royal Swedish Academy of Sciences.

The award caps a week of Nobel Prizes at a time when much of the world is experiencing the worst recession since World War II because of the impact of the coronavirus pandemic.

Technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the award was established in 1969 and is now widely considered one of the Nobel prizes.

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American duo win Nobel prize in economics for improvements to auction theory

Winners of the Nobel Prize in Economic Sciences Paul R Milgrom, left, and Robert B Wilson

Two American economists have won the Nobel Prize for improving the theory of how auctions work and inventing new and better formats that are now woven into the economy.

The discoveries of Paul R Milgrom and Robert B Wilson “have benefitted sellers, buyers and taxpayers around the world”, the Nobel Committee said, noting that the auction formats developed by the winners have been used to sell radio frequencies, fishing quotas and airport landing slots.

The two winners, who are economists based at Stanford University in California, were

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2 Americans win Nobel Prize in economics for improvements to auction theory

Two American economists won the Nobel Prize in Economic Sciences on Monday for improving the way auctions work and creating new auction formats that have benefited sellers, buyers and taxpayers around the world.

Paul Milgrom and Robert Wilson, who are based at Stanford University in California, designed new auction formats for good and services that are difficult to sell in a traditional way, including radio frequencies, airport landing slots and fishing quotas.

Their work resulted in crucial practical applications that have spread globally and “are of great benefit to society,” said Peter Fredriksson, chair of the Nobel committee.

Wilson, 83, developed the theory for auctions of objects with a common value, which is “uncertain beforehand but, in the end, is the same for everyone.”



a screenshot of a computer screen: Americans Paul R. Milgrom, left, and Robert B. Wilson have won the Nobel Prize in economics for 'improvements to auction theory and inventions of new auction formats.'


© Anders Wiklund
Americans Paul R. Milgrom, left, and Robert B. Wilson have won the Nobel Prize in economics for ‘improvements to auction theory and inventions

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Theory Design creating modern interior for Burrata model at Miromar Lakes

Caffrey & Associates, Special to Naples Daily News
Published 6:01 a.m. ET Oct. 10, 2020

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Theory Design’s Vice President of Design Ruta Menaghlazi and interior designer Adriene Ged are creating the interior design for Seagate Development Group’s furnished Burrata model in the Ancona neighborhood at Miromar Lakes Beach & Golf Club.  Priced at $3,295,000 with furnishings, the Burrata model includes 4,068 square feet under air and a massive outdoor living area measuring 1,058 square feet.  The open-concept plan features a living area that includes a spacious grand room, an island kitchen, and a dining area.  The plan’s study can be tasked as a formal dining room.  The grand room and the dining area have pocketing sliders that open to an outdoor

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Captiva model at Hill Tide Estates showcases interior by Theory Design

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BOCA GRANDE — Theory Design’s Vice President of Design Ruta Menaghlazi has created a spectacular interior design for Seagate Development Group’s furnished Captiva model that is now open for viewing and purchase at Hill Tide Estates, a 9.98-acre gated enclave on the southern tip of Boca Grande being developed by Seagate.  Theory Design was named recipient of a 2019 Aurora Award for the Captiva’s interior in the Best Interior Design of a Home Priced over $2 million category.  Seagate was presented an Aurora Award for the Captiva in the Best Single-Family Detached Home Over 4,000 Square Feet category.  Priced at $5,995,000 with furnishings, the Captiva is one of three

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Global Precision Medicine Market 2020-2030: Remodeling the One-Size-Fits-All Theory to Individually Tailored Therapy

The MarketWatch News Department was not involved in the creation of this content.

Dublin, Sep 30, 2020 (GLOBE NEWSWIRE via COMTEX) —
Dublin, Sept. 30, 2020 (GLOBE NEWSWIRE) — The “Global Precision Medicine Market: Focus on Ecosystem, Technology, Application, Country Data (21 Countries), and Competitive Landscape – Analysis and Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.

Global Precision Medicine Market to Reach $278.61 Billion by 2030

Precision medicine refers to the medicine developed as per an individual’s genetic profile. It provides guidance regarding the prevention, diagnosis, and treatment of diseases. The segmentation of the population is done depending on the genome structure of the individuals and their compatibility with a specific drug molecule.

In the precision medicine market, the application of molecular biology is to study the cause of a patient’s disease at the molecular level, so that target-based therapies or individualized therapies can be applied to cure

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Theory Design completes interior for Monterey model in Talis Park

Caffrey & Associates, Special to Naples Daily News
Published 6:00 a.m. ET Sept. 26, 2020

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Theory Design’s Vice President of Design Ruta Menaghlazi has completed the finishing touches for the interior design of Seagate Development Group’s Monterey model in the Isola Bella neighborhood at Talis Park in North Naples that is now open for viewing and purchase.  One of Talis Park’s most coveted neighborhoods, Isola Bella is 4.5-acre enclave of 17 single-family waterfront homes being developed by Seagate.  Thirteen homesites remain available.  Seagate is offering a full golf membership worth $97,500 with new home purchases and newly constructed custom residences at Isola Bella for a limited time.  Ruta also created the interior for

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Theory Design creates interior for Monaco model at Esplanade Lake Club

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FORT MYERS  — Theory Design’s Vice President of Design Ruta Menaghlazi, Lead Designer Adriene Ged, and interior designer Cynde Thompson have created a coastal beach style interior with a casually elegant feeling for Seagate Development Group’s Monaco model that is now open for viewing and purchase at Esplanade Lake Club.  Esplanade Lake Club is a 778-acre resort lifestyle community being developed by Taylor Morrison.  The gated community is positioned on a 352-acre lake and is attracting significant homebuyer traffic.  Taylor Morrison selected Seagate as the exclusive custom homebuilder at Esplanade Lake Club.  Custom homes by Seagate will be built on 11 of the community’s most spectacular lakefront

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Theory Design creating interior for Bal Harbour model at Hill Tide Estates

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BOCA GRANDE — Theory Design’s Vice President of Design Ruta Menaghlazi is creating a spectacular interior design for Seagate Development Group’s furnished Bal Harbour model now under construction at Hill Tide Estates, a 9.98-acre gated enclave on the southern tip of Boca Grande being developed by Seagate. Priced at $6,900,000 with furnishings, the Bal Harbour is one of three models available for purchase at Hill Tide Estates.  Seagate’s completed Captiva model is open for viewing and also features an interior design by Ruta Menaghlazi.  Theory Design was named recipient of a 2019 Aurora Award for the Captiva’s interior in the Best Interior Design of a Home Priced over $2

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