Paul R. Milgrom and Robert B. Wilson, 2020 Nobel Laureate in Economics, for applying auction theory to frequency sharing

American economists Paul Milgrom, 72, and Robert Wilson, 83, winners of the 2020 Nobel Prize in Economics, for their auction theories.

His innovative work has been used in particular for the allocation of telecommunication frequencies.

Milgrom and Wilson have been honored for their contributions "in auction theory and inventions of new auction formats," reported the Royal Swedish Academy of Sciences.

The award is the last of the Nobel Prizes announced and will be presented, like the others, on December 10.

The two Americans have previously received the

in Economics.

Milgrom in its fifth edition and Wilson in its eighth.

Robert B. Wilson was Milgrom's thesis advisor and together they devised the

that the Federal Communications Commission uses to distribute cellular frequencies among telephone companies.

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