Stanford's Paul Milgrom and Robert Wilson are honored for their "inventions of new auction formats." Auctions are now used to price Internet ads, wholesale electricity and fishing permits.
The scientists' work led to a test to protect blood transfusion recipients from hepatitis C and drugs to treat the infection that have saved millions of lives, according to the Nobel Assembly.
Esther Duflo is the first female economist to win the Nobel Prize. Planet Money talks to her about her win, the state of gender inequality in economics, and her new book.
An American woman, Frances H. Arnold, has won half of the 2018 Nobel Prize in chemistry, and George Smith of the U.S. and Sir Gregory Winter of the U.K. will share the other half.
Three members of the Swedish Academy, which awards the Nobel Prize in literature, protested its response to a simmering scandal by resigning their permanent roles. Now, the group is in a tough spot.
He's the biochemist Har Gobind Khorana, who discovered the grammar that organizes DNA. But first he had to overcome the accent and mannerisms of his Indian village.
The physicist had just won the 1921 Nobel Prize when he scribbled his theory of happy living on a piece of hotel stationery and handed it to the courier at the Imperial Hotel Tokyo.
The Swedish Academy said it was awarding Thaler the prize in economics for his pioneering work in incorporating "psychologically realistic assumptions into analyses of economic decision-making."