Jewish American shares Nobel Prize in economics

(JNS) — A Jewish American economist was one of two winners of the 2020 Nobel Prize in economics for studying how auctions work, announced the Royal Swedish Academy of Sciences on Monday.

Paul Milgrom, along with American economist Robert Wilson, won the prestigious annual prize “for improvements to auction theory and inventions of new auction formats,” announced the academy.

Both professors at Stanford University, they “have also used their insights to design new auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Their discoveries...