Rational Rules
Collective decision making frequently involves voting, but voting rules are not always the same. Sometimes a consensus is required, sometimes a simple majority is enough and sometimes a qualified majority is required. In the sphere of economics as well – in markets and in companies – many different rules are at work. In some markets sellers set prices unilaterally, some markets are governed by auctions and in yet other markets prices are determined through bargaining. The mechanism design theory helps us understand which rules of play yield the best results in both the political and economic sphere.
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Nobel Prizes and laureates
Eleven laureates were awarded a Nobel Prize in 2023, for achievements that have conferred the greatest benefit to humankind. Their work and discoveries range from effective mRNA vaccines and attosecond physics to fighting against the oppression of women.
See them all presented here.
See them all presented here.
Explore prizes and laureates
Look for popular awards and laureates in different fields, and discover the history of the Nobel Prize.