2 Stanford economists win Nobel prize for improving auctions

STOCKHOLM (AP) — Auctions are everywhere in today’s economy. They determine how Google sells ads, what price consumers end up paying for electricity, and the way governments sell off the public airwaves to telecom companies and broadcasters. For helping make auctions run more efficiently, two Americans on Monday won the Nobel prize for economics. The […]

Richard Thaler wins Nobel for work in behavioral economics

STOCKHOLM (AP) — The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people’s choices on economic matters — whether on savings or game shows like “Deal or No Deal” — are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to the academic for […]