Many products are now sold using "package auctions" for a more efficient allocation of goods.
The winning economists designed auctions that allow for multiple bids over a period of time.
Americans Paul R. Milgrom and Robert B. Wilson won the Nobel Prize in economics on Monday for “improvements to auction theory and inventions of new auction formats.”
Economists comment on what makes Romer’s views unique.
There’s a new report out on climate change science and it’s bleak. The Intergovernmental Panel on Climate Change, made up of thousands of scientists, finds the earth’s temperature has risen 1 degree Celsius — or 1.8 degrees Fahrenheit — since pre-industrial times. And if we don’t keep warming under 2 degrees? Well, the oceans could rise an […]
The Nobel committee said Thaler’s work shows how human traits affect individual decisions and market outcomes.