This year's Nobel Prize in Economics went to two people, Paul Milgrom and Robert Wilson.



The Nobel Committee of the Royal Swedish Academy of Sciences announced on the 12th local time that Paul Milgrom and Robert Wilson, professors of Stanford University in the United States, were selected as the 2020 Nobel Prize winners in Economics.



They were recognized for their contribution to solving the principles of the auction market and the decision-making problems of participants in the auction market through economic studies.



Regarding the reasons for their awards, the Nobel Committee said, "Auctions happen everywhere and affect our daily lives." "It gave me a benefit."



Nobel Prize winners will receive a Nobel Prize medal and certificate along with a total prize of KRW 10 million and KRW 1.3 billion in our money.



(Photo = Nobel Committee YouTube capture, Yonhap News)