Oct 13, 2020

Auctions aren’t just for livestock or fine art, Nobel laureate says

Professor Robert Wilson, one of two recipients of this year's Nobel prize in economics, says auctions are used for more than just livestock sales these days. Jeff J Mitchell/Getty Images

Professor Robert Wilson says auction theory affects our everyday lives, from house prices to phone networks. Australia investigates if China has stopped importing its coal. Who benefits from Prime Day?

Segments From this episode

Amazon Prime Day boosts small business shopping, too

by Victoria Craig

Oct 13, 2020

There are small- and medium-sized businesses who use Amazon's platform and logistics to reach wider audiences.

More than half the products sold on Amazon come from smaller companies.

Justin Sullivan/Getty Images

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Nobel laureate Robert Wilson says auctions pervade our everyday life

by Victoria Craig and Alex Schroeder

Oct 13, 2020

Many products are now sold using "package auctions" for a more efficient allocation of goods.

It's not just art sales. Auctions are instrumental in advertising sales, electricity prices, property purchases and more.

Spencer Platt/Getty Images

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The team

David Brancaccio Host

Victoria Craig Host, BBC

Stephen Ryan Senior Producer, BBC

Jonathan Frewin Producer, BBC

Daniel Shin Producer

Jay Siebold Technical Director

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Rose Conlon Producer

Brian Allison Technical Director

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