Blog Month: January 2021

Building Better Markets is a Nobel Endeavor

On October 12, we learned that the 2020 Nobel Prize in Economics was to be awarded to Stanford’s Robert Wilson and Paul Milgrom “for improvements to auction theory and inventions of new auction formats.” Their groundbreaking work had, the committee recognized, revolutionized the efficient allocation of resources as important and diverse as radio spectrum shares... Read more

Posted on: January 04, 2021

How Many Exchanges Is Enough?

September saw the debuts of the 14th, 15th, and 16th U.S. stock exchange, adding oxygen to a never-ending debate: How many exchanges is enough? Communists say the number is zero; monopoly-lovers say it is one.  Beyond that, the commentariat is split between “a lot fewer than 16” and “the more, the merrier.” The first group... Read more

Posted on: January 04, 2021