10-12-20, 09:13 AM
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SUBSIM Newsman
Join Date: May 2008
Location: Close to sea
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Nobel: US auction theorists win Economics Prize
Quote:
Paul Milgrom and Robert Wilson have won the 2020 Nobel Economics Prize for their work on auction theory.
The Stanford University game theorists have helped in developing formats for the sale of aircraft landing slots, radio spectrums, and emissions trading.
The Royal Swedish Academy of Sciences said their work "benefitted sellers, buyers and taxpayers" worldwide.
Game theory uses mathematics to study decision-making, conflict, and strategy in social situations.
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https://www.bbc.com/news/business-54509051
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