Yesterday, Paul Milgrom and Robert Wilson were awarded the Nobel Prize in economics for their contributions to the field of auction theory. 

In relation to this, the Danish newspaper Børsen interviewed our Senior Economist and Auctions expert, Neil Gallagher, about auctions and the theory of the winner’s curse (developed by Milgrom and Wilson) – and why auction theory is of continued relevance:

“There is a lot of potential considering that public procurement is so incredibly important but auction theory is used so little. So I hope this can shed a light on the topic,” says Neil Gallagher.

Read the full article here (in Danish)

For further information, please contact Senior Economist Neil Gallagher