In October 2020, the Nobel Prize in Economic Science was awarded to two Stanford academics, Paul Milgrom and Robert Wilson, for their improvements to auction theory and inventions of new auction formats. Their research in game theory and auction theory and their advancements in practical auction formats underpin the Smart Market. We at OneChronos are elated at both their deserving receipt of the prize and the validation of their inventions' contributions to marketplaces of all kinds. You can learn more about the 2020 Nobel Prize in Economics , and greater detail on Wilson and Milgrom's research and auction formats .