The Nobel Prize for Economics, 2020 was awarded to 

The correct answer is Both 1 and 2.

• In News - 
  • ​Recently, Nobel Prize for Economics, 2020 has been awarded jointly to Paul R. Milgrom and Robert B. Wilson.
  • The two economists were awarded "for improvements to auction theory and inventions of new auction formats".
  • Their discoveries have benefitted sellers, buyers, and taxpayers globally.

Mistake Points

• The 2019 Nobel Prize in Economic Sciences was awarded to Indian-American economist Abhijit Banerjee, Esther Duflo, and Michael Kremer for their experimental approach to alleviating global poverty.

Additional Information

• About Nobel Prize - 
  • The Nobel Prize is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances.
  • The will of the Swedish scientist Alfred Nobel established the five Nobel prizes in 1895.
  • The Nobel Foundation is a private institution established in 1900, has ultimate responsibility for fulfilling the intentions in Alfred Nobel’s will.
  • In 1968, Sveriges Riksbank (Sweden’s central bank) established the Prize in Economic Sciences in the Memory of Alfred Nobel.
  • The first prize in Economic Sciences was awarded to Ragnar Frisch and  Jan Tinbergen in 1969.​