Nobel Economics

Economists Robert Wilson, left, and Paul Milgrom, who are also neighbors, have their photo taken Monday after learning they've won the Nobel Prize. [ANDREW BRODHEAD/STANFORD NEWS SERVICE]

STOCKHOLM — Auctions are everywhere in today’s economy. They determine how Google sells ads, what price consumers end up paying for electricity, and the way governments sell off the public airwaves to telecom companies and broadcasters.

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