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Two American economists won the 2020 Swedish Central Bank (Sveriges Riksbank) Prize in Economic Sciences in Memory of Alfred Nobel.
The Royal Swedish Academy of Sciences said that it awarded the prize to Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats."
The honorees will equally split the $1.1 million award.
The Nobel Prize in Economic Science was not included in Alfred Nobel's will. It was created in 1968 by the Swedish Central Bank in Memory of Alfred Nobel to mark its 300th anniversary. It was first awarded in 1969 and has been funded by the bank since then.
Three scientists - two Americans and one Briton - shared the medicine prize for the discovery of the Hepatitis C virus.
Three other scientists - one Briton, one American and one German - won the physics prize for their discoveries related to black holes.
The prize in chemistry was awarded to two scientists - one French and one American - for developing a method of gene editing.
An American poet won the Nobel Prize in literature for an "unmistakable poetic voice that with austere beauty makes individual existence universal."
The World Food Program (WFP) won the Nobel Peace Prize for its efforts to combat the threat of hunger.