Nobel Prize Economics
A screen shows pictures of US economists Paul Milgrom (L) and Robert Wilson during the announcement of the winners of the "2020 Nobel Prize Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel" at the Royal Swedish Academy of Sciences in Stockholm
ANDERS WIKLUND/TT News Agency/AFP via Getty Images
  • American economists Paul R. Milgrom and Robert B. Wilson won The Nobel Prize in Economics “for improvements to auction theory and inventions of new auction formats.” 
  • Milgrom and Wilson are both faculty members at Stanford University, as well as neighbors. Milgrom was once Wilson’s graduate student, according to the Stanford News Service.
  • Milgrom found out that he won when Wilson knocked on his door at 2:15 a.m., according to Stanford University, which posted a Nest video recording of the event.
  • The video shows Wilson telling Milgrom, “Paul, it’s Bob Wilson. You’ve won the Nobel Prize.”
  • In Stockholm, Milgrom’s wife learned that her husband won the Nobel prize when she “received a security-camera notification on her phone” when Wilson rang the doorbell, according to Stanford.
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