(a) Paul R Milgrom
(b) Robert B Wilson
(c) Jennifer A Doudna
(d) Both a & b
The 2020 Nobel Prize in Economic Sciences has been awarded to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.” This year’s Economic Science Laureates — Paul Milgrom and Robert Wilson — have not just clarified how auctions work and why bidders behave in a certain way, but used their theoretical discoveries to invent entirely new auction formats for the sale of goods and services.