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| Name | The 2020 Nobel Prize in Economics: Explained | Economics Explained |
| Video Uploader | Video From Economics Explained |
| Upload Date | This Video Uploaded At 25-10-2020 16:18:55 |
| Video Discription | Sign-up for Acorns! π https://acorns.com/ee?s2=NOB3 (upon registration, Acorns will deposit $5 in your account to help you get started with investing!) βββββββββββββββββββββββββ The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, or simply the Nobel Prize in Economics is an award given every year to thought leaders in the field. This is one of 6 prizes given out the others recognizing similarly high achievers in literature, physics, medicine, chemistry, and of course the peace prize awarded for furthering the betterment of humanity. In and amongst all of the happenings in the world this year these awards have kind of flown under the radar which is unfortunate because they all recognized some very remarkable works. And in the field of economics, it all had to do with auctions. Auctions to the average person might sound like a pretty mundane thing, you hop on eBay and bid for a new RTX 3080 before crying yourself to sleep, or maybe you are bidding for a new house to live in at a property auction. At the extreme end, we see auctions for works of art that sell for millions of dollars but even still the auction itself kind of just looks like a formality around which a transaction is done. But this is far from true. Auctions and Auction Theory are one of the most important systems to understand in economics because they act as an efficient way to build markets and correctly determine how we value items. Remember amongst everything economics is simply a study of how people interact with things of value. So with that in mind What should the average person or aspiring economist know about Auction Theory? What did the winners of this year's Nobel prize contribute to this theory? And how can this be utilized to build better and more efficient economies? #Auctions #NobelPrize #Economics Enjoyed the video? Comment below! π¬ β Subscribe to Economics Explained π https://bit.ly/sub2ee β Enjoyed? Hit the like button! π Q&A Streams on EEII (2nd channel) β https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g βοΈ Business Enquiries β [email protected] Follow EE on social media: Twitter π¦ β https://twitter.com/EconomicsEx Facebook β https://www.facebook.com/EconomicsEx Instagram β https://www.instagram.com/economicsexplainedoffical/ βββββββββββββββββββββββββ π΅ π Economics Explained is brought to you by Acorns! Sign-up now and Acorns will invest $5 into your portfolio to help you get started with investing, saving, and earning with every purchase! π https://acorns.com/economics-explained βββββββββββββββββββββββββ ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY ππ Support EE by becoming a Patron today! π https://www.patreon.com/EconomicsExplained The video youβre watching right now would not exist without the monthly support provided by our generous Patrons: Morgon Goranson, Andy Potanin, Wicked Pilates, TadeΓ‘Ε‘ UrsΓny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas |
| Category | Education |
| Tags | the nobel prize in economics | how to run an auction economics explained | the economics of running an auction | economics nobel prize 2020 | auction theory in economics | what is auction theory in economics | auction theory explained | the economics of the nobel prize | what is the nobel prize of economics | alfred nobel | how does auction theory work economics explained | how does auction theory work | economics explained | nobel prize | auction theory | nobel prize in economics |
