To save any of his marching bandmates, Steve Marx says, he would run into onrushing traffic with no hesitation. It’s the kind of language often heard from former army buddies, not musicians, but Marx brings up the scenario to show the strength of his feelings about this group. The marching […]

Economics Nobel honors pioneers of auction theory

Underlying carbon emission credits, electricity markets, and radio spectrum allocations is the humble and ancient sale format of the auction. This year’s Nobel Prize in economic sciences has been awarded to economists who pioneered auction theory and invented new formats that drastically shifted how public resources are allocated. The prize […]