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Two Americans Win Nobel Prize in Economics in New Auction Format

New auction formats are used for radio spectrum, catch quotas, aircraft landing slots, and emission slots.

In the past, celebrities such as Paul Krugman and Milton Friedman have won economic awards, the final of the six 2020 awards that many of the world are experiencing, with the Nobel Memorial Prize in Economics casting a shadow over the COVID-19 pandemic. It was a version. The worst recession since World War II.

The traditional Gala Winners dinner in December has been canceled and the rest of the celebration is being held digitally to avoid the risk of spreading the infection.

Technically known as the Sveriges Riks Economic Science Award in memory of Alfred Nobel, the award was founded in 1969 and is now widely regarded as one of the Nobel Prizes.

Last year’s award was given to two researchers at the Massachusetts Institute of Technology and a third researcher at Harvard University for groundbreaking research into global poverty reduction efforts.

The Earth virtually shuts down last fall as the government closed borders, imposed blockades, ordered other steps to stop the spread of COVID-19, and caused a sharp decline in business activity around the world. Few economists would have predicted.

The prestigious award includes a prize of Skr 10 million (A $ 1.5 million) and a gold medal.

On Monday, the Nobel Committee awarded the Physiology and Medicine Award for discovering the hepatitis C virus, which destroys the liver. Tuesday’s Physics Award celebrates a breakthrough in understanding the mysteries of cosmic black holes, and Wednesday’s Chemistry Award is presented to scientists behind powerful gene editing tools.

The Literary Award was awarded Thursday for the “candid and uncompromising” work of the American poet Louise Glück. The World Food Program won the Nobel Peace Prize on Friday for its efforts to combat hunger around the world.

AP

Two Americans Win Nobel Prize in Economics in New Auction Format

Source link Two Americans Win Nobel Prize in Economics in New Auction Format

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