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Jeremy Tobacman is in the Department of Economics and specializes on Business Economics and Public Policy. He studies behavioral economics and household finance, with a focus on low-income households. In a series of papers, Jeremy has found that psychologically-informed models of intertemporal choice help to explain patterns of simultaneous mid-life wealth accumulation and credit card borrowing in the United States.
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American economists Paul R. Milgrom and Robert B. Wilson won The Nobel Prize in Economics "for improvements to auction theory and inventions of new auction formats." This year’s winners have studied auctions and how they work. “Most of us experience auctions in some form, perhaps through silent bidding at charity events or buying items on eBay. While the concept of auctions has been around for millennia and is generally understood, making them effective and efficient isn’t so simple. It’s particularly complex for certain types of goods and services that aren’t easy to sell through traditional channels, such as frequencies on the radio spectrum or airport landing slots.”