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Stanford Economists Who Helped Develop Radio Auction Markets Win Nobel Prize03:47
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Robert Wilson, left, and Paul Milgrom have been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. (Andrew Brodhead/ Stanford News Service)
Robert Wilson, left, and Paul Milgrom have been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. (Andrew Brodhead/ Stanford News Service)

Two Stanford University professors have won this year's Nobel Prize in economics. Paul Milgrom and Robert Wilson helped explain the intricacies of auction markets, which govern the sale of everything from stocks and securities to fishing quotas.

Here & Now's Peter O'Dowd speaks with Milgrom about the pair's achievement.

This segment aired on October 12, 2020.

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