The 2020 Nobel Prize in Economics was on Monday awarded to American economists, Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats".

According to the Royal Swedish Academy of Science, Wilson has awarded this year's Prize in Economic Sciences as he "showed why rational bidders tend to place bids below their own best estimate of the common value: they are worried about the winner's curse - that is, about paying too much and losing out".