Americans Milgrom, Wilson win Nobel prize in economics
Stockholm: Americans Paul R Milgrom and Robert B Wilson have won the Nobel Prize in economics for improvements to auction theory and inventions of new auction formats.
The winners were announced Monday in Stockholm by Goran Hansson, secretary-general of the Royal Swedish Academy of Sciences.
The award caps a week of Nobel Prizes at a time when much of the world is experiencing the worst recession since World War II because of the impact of the coronavirus pandemic.
Technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the award was established in 1969 and is now widely considered one of the Nobel prizes.
Last year's award went to two researchers from the Massachusetts Institute of Technology and a third from Harvard University, for their groundbreaking research into efforts to reduce global poverty.
Few economists could have predicted last fall that the globe would come to a virtual standstill within months, as governments closed their borders, imposed lockdowns and ordered other measures to stop the spread of COVID-19, triggering a sharp dip in business activity worldwide.
The prestigious award comes with a 10-million krona (USD 1.1 million) cash prize and a gold medal. On Monday, the Nobel Committee awarded the prize for physiology and medicine for discovering the liver-ravaging hepatitis C virus.
Tuesday's prize for physics honoured breakthroughs in understanding the mysteries of cosmic black holes, and the chemistry prize on Wednesday went to scientists behind a powerful gene-editing tool.
The literature prize was awarded to American poet Louise Gl ck on Thursday for her candid and uncompromising work. The World Food Programme won the Nobel Peace Prize on Friday for its effort to combat hunger worldwide.
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4 workers die after being buried under coal slurry in Jharkhand's Dhanbad
Dhanbad (Jharkhand) (PTI): At least four workers died after being buried under coal slurry in Jharkhand's Dhanbad district on Saturday, a police official said.
The incident took place at Moonidih coal washery in the command area of Bharat Coking Coal Limited (BCCL).
"Bodies of all four workers were dug out of debris during a rescue operation," Putki police station in-charge Waqar Hussain told PTI.
The incident took place when coal slurry was being loaded into trucks by workers, during which a large chunk of slurry fell and trapped several workers underneath, officials said.
The deceased have been identified as Manik Bauri, Dinesh Bauri, Deepak Bauri, and Hemlal Gope.
Meanwhile, the family members of the deceased and local villagers placed the bodies in front of the washery gate and began a protest.
They demanded compensation, jobs for dependents and action against those responsible for the incident.
Police and administration officials are trying to pacify the protesters, an official said.
