At the Dresden "Long Night of Science 2021", Prof. Ostap Okhrin, Head of the Chair of Econometrics and Statistics, especially in the Transport Sector at TU Dresden, gave an online lecture on "Nobel Prize in Economics 2020: simply explained". This was the start of a planned series "Nobel Prize in Economics". The questions are always: Who received the prize? What was the prize awarded for? Why is this invention particularly important?

In 2020, Stanford University researchers Paul Milgrom and Robert Wilson were awarded the prize "for improvements in auction theory and inventions of new auction formats". But what does that mean in concrete terms? Which auction formats were invented and what improvements go along with them? Ostap Okhrin answers all these questions in the video - and of course: simply explained!

Prof. Ostap Okhrin

Head of the Chair of Econometrics and Statistics, esp. in the Transport Sector at the

Institute of Transport and Economics of the

"Friedrich List" Faculty of Transport and Traffic Sciences at TU Dresden