. >> auctions aree used broroadly. they are u used in society to determine electricity prices, which are the heating bills. they are determining the price of purchasing services for localities who want to remove trash removal. >> the research of nobel winners has helped to make auction work more efficiently. tackling problems like the winner's curse, which involves buyers scaling back offers if they worry about overpaying. the solution is for the seller to provide as much information as p possible before the bidding begins.. the e findings havave beenn appd to fields from online advevertising to 5g networks.s. >> somomething i'veve been workg on for the last t few y years hs been too do with the allococatin of resesrces for 5 5g radio spspectrum. thosose are compmplicatedd transasactions. they weree beyond the rereach of tradaditionanal economic models. >> in the telecommunications industry, private companies seek licenses from the government to use publicly owned radio frequencies. in 19 94, the u.s. government switch