To Nόμπελ Οικονομίας στους ανθρώπους που άλλαξαν τη θεωρία των δημοπρασιών

Οι Πολ Μίγκρομ και Ρόμπερτ Γουίλσον θα λάβουν φέτος το Νόμπελ Οικονομίας.

Πρόκειται για δύο επιστήμονες που έφεραν τα πάνω-κάτω στη θεωρία των δημοπρασιών ενώ παράλληλα εισήγαγαν νέες μορφές και κανόνες δημοπρασίας, γεγονός που είχε θετικό αντίκτυπο σε πωλητές, αγοραστές και φορολογούμενους.

Το Νόμπελ Οικονομίας, το οποίο συνοδεύεται από χρηματικό έπαθλο 10 εκατομμυρίων σουηδικών κορωνών, δεν εμπεριέχεται στα πέντε αρχικά βραβεία που δημιουργήθηκαν με τη διαθήκη το 1895 του βιομηχάνου και εφευρέτη της δυναμίτιδας, Άλφρεντ Νόμπελ.

Αντιθέτως, καθιερώθηκε από την κεντρική τράπεζα της Σουηδίας και απονεμήθηκε για πρώτη φορά το 1969.

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BREAKING NEWS The Royal Swedish Academy of Sciences has decided to award the 2020 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.” This year’s Laureates, Paul Milgrom and Robert Wilson, have studied how auctions work. They have also used their insights to design new auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Their discoveries have benefitted sellers, buyers and taxpayers around the world. Using auction theory, researchers try to understand the outcomes of different rules for bidding and final prices, the auction format. The analysis is difficult, because bidders behave strategically, based on the available information. They take into consideration both what they know themselves and what they believe other bidders to know. Robert Wilson developed the theory for auctions of objects with a common value – a value which is uncertain beforehand but, in the end, is the same for everyone. Examples include the future value of radio frequencies or the volume of minerals in a particular area. Wilson showed why rational bidders tend to place bids below their own best estimate of the common value: they are worried about the winner’s curse – that is, about paying too much and losing out. Paul Milgrom formulated a more general theory of auctions that not only allows common values, but also private values that vary from bidder to bidder. He analysed the bidding strategies in a number of well-known auction formats, demonstrating that a format will give the seller higher expected revenue when bidders learn more about each other’s estimated values during bidding. For more information see link in bio #NobelPrize #NobelLaureate #NobelPrize2020 #economicsciences #economics

A post shared by Nobel Prize (@nobelprize_org) on Oct 12, 2020 at 2:49am PDT