20 minutes agoGame theory specialists win Nobel for Economy: The Nobelist is embarrassed to receive the prize
Periskopi(6 years ago)
(6 years ago)The Nobel Prize for Economics was awarded during today to two “players at the game”, 26 years after John Nash a Princeton academic played in “A Beauiful Mind” by Russell Crown had won this award for the same theme. Americans Paul R Milgron and Robert B Wilson won [...]
Americans Paul R Milgron and Robert B Wilson won for the designs of mathematical models promoting “upgrades of auction theory and the drilling of new forms of auction”, said Goran K Hansson, secretary general of the Swedish Royal Academy of Sciences.
Milgrom, 72, is one of the most interesting minds in auction theory, along with his colleague and Stanford's board adviser, 83-year-old Wilson, broadcast Periscope.
Ankand's theory, which is a branch of game theory, was developed in the late '70s and '80s after a group of researchers decided to build some mathematical models that could present incentiva and information on the Quran's bidding process to establish a fair market and prevent secret agreements between bidders.
Speaking to reporters in Stockholm by phone after learning that he had won, Wilson failed to think of any auction he had participated in. But then he added: “My wife is telling me that we bought the ski shoes on eBay. I guess this was an auction. ”
