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Two Stanford University academics who helped design the US auction that allocates mobile-phone frequencies will share the 2020 Nobel Prize in economics. Paul Milgrom and Robert B Wilson, whose ideas have been applied to sales of anything from aircraft landing slots to fishing quotas, won’t need to travel to Stockholm to receive the award because of Covid-19, according to Nobel officials.
“They have 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,” the Royal Swedish Academy of Sciences said in a statement on Monday.
The 2020
